Tag: Essex

The ex-convict’s tale: Germany’s role in Wirecard scandal under microscope

John O’donnell, Tom Sims, 23 April 2021

In February 2019, after a steep drop in Wirecard’s share price, German authorities launched criminal probes into short-sellers and journalists who had accused the company of fraud, and banned investors from betting against the company.

Documents seen by Reuters show for the first time that the only independent information – beyond Wirecard’s representations – received by Munich prosecutors who launched the criminal probes was a third-hand account of events from a convicted money launderer, Daniel James Harris.

The rationale that led to the decisions of prosecutors and regulators to launch the criminal probes and short-selling ban, and whether they were overzealous in supporting Wirecard, are central issues being investigated by a parliamentary inquiry into the company’s collapse in Germany’s biggest post-war fraud scandal. Continue reading “Article: The ex-convict’s tale: Germany’s role in Wirecard scandal under microscope”