Tag: Wirecard

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Article: German watchdog updates market manipulation case against Wirecard

Article - Media, Publications

German watchdog updates market manipulation case against Wirecard

Douglas Busvine, 23 June 2020

BERLIN, June 23 (Reuters) – Germany’s financial watchdog said on Tuesday it had filed an updated case against Wirecard , saying the collapsed payment company’s disclosure of a $2.1 billion financial hole showed it had sought to mislead markets.

The regulator Bafin said it had filed a follow-up to an earlier complaint with Munich prosecutors as it now suspected Wirecard’s accounts for 2016, 2017 and 2018 had misstated revenues and assets.

“This also strengthens the suspicion that the information contained in its financial reports sent false signals for Wirecard’s share price and thus violated a ban on market manipulation,” Bafin said in a statement.

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Article: Wirecard Shares Plunge 60% As Auditors ‘Unable To Verify’ $2 Billion In Cash On Its Books

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Wirecard Shares Plunge 60% As Auditors ‘Unable To Verify’ $2 Billion In Cash On Its Books

As we’ve previously noted, German regulators have bent over backwards to accommodate Wirecard, even going so far as to discourage short sellers from targeting the stock, and launching an investigation into an FT reporter who published the first allegations about fraud within the fast-growing digital payments company.

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Comment: Insiders always have deep broad advance knowledge. Wirecard appears to have some combination of internal issues AND be under attack. The plunging prices are covering the shorts.  NSA has all the data but is not doing “trade intelligence” or white collar crime counterintelligence.

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Article: Prosecutors search Wirecard premises in market manipulation probe

Article - Media, Publications

Prosecutors search Wirecard premises in market manipulation probe

Thomas Escritt, 05 June 2020

BERLIN, June 5 (Reuters) – Prosecutors in Munich said they had searched the premises of financial services company Wirecard and opened proceedings against its management board as part of a market manipulation probe by BaFin, Germany’s financial regulator.

In a statement on Friday, prosecutors said the company was suspected of having issued misleading information which may have impacted Wirecard’s share price between March 12 and April 22.

Wirecard confirmed in a statement that its premises had been searched as part of an investiugation targeting its management board. It said it was cooperating fully with the investigation.

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Article: Has Wall Street Stolen $100 Trillion from the American Public? Will Donald Trump Get It Back?

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Has Wall Street Stolen $100 Trillion from the American Public? Will Donald Trump Get It Back?

Tehran Times, May 26, 2020 – International

TEHRAN – Robert David Steele, a former Marine Corps infantry officer and CIA spy as well as an activist for Open Source Everything Engineering (OSEE), contributes regularly to Tehran Times.

Continue reading “Article: Has Wall Street Stolen $100 Trillion from the American Public? Will Donald Trump Get It Back?”

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Article: Germany’s BaFin investigating Wirecard communication ahead of audit publication

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Germany’s BaFin investigating Wirecard communication ahead of audit publication

Reuters, 8 May 2020

BaFin had previously said it would include the findings of the KPMG audit in its ongoing investigation into suspected market manipulation in Wirecard stock.

Comment: Regulatory agencies are easy to manipulate as a secondary means of direct market manipulation. They address only a tiny fraction of the crimes being committed by naked short sellers, while being easily spoofed into helping naked short sellers because they take fraudulent whistleblowers at face value when it suits them to do so.

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Tweet: Fraser Perring — Liar and Naked Short Seller?

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Comment: Perring operates Viceroy Research.

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Article: Wirecard sues Financial Times over investigative reports

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Wirecard sues Financial Times over investigative reports

Straits  Times (Singapore), 29 March 2019

Wirecard has filed a suit at the Munich regional court against both the FT and its reporter, Dan McCrum, seeking a ruling on the merits of its case. If successful, the company would then press for monetary redress.

Comment: Use the tag cloud to find other articles about Dan McCrum, suspected to be in collusion with naked short sellers.

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Article: Wirecard – what KPMG’s report found

Article - Media

Wirecard: what KPMG’s report found

The payments group had predicted vindication from a special audit — it did not arrive

Dan McCrum and Olaf Storbeck

Financial Times, 29 April 2020

For months Wirecard had confidently predicted that KPMG would vindicate its accounting and deliver a final riposte to its sceptics. Instead, the publication on Tuesday of a report from the accounting firm caused shares in the Dax 30 company to crash 26 per cent as investors learnt that KPMG’s investigators had faced obstacles in their attempts to verify that large parts of the business were real, and publication of full-year results would be delayed again. The shares fell another 7 per cent on Wednesday.

Paywall Access to Full Article.

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Article: Wirecard’s suspect accounting practices revealed

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Wirecard’s suspect accounting practices revealed

Dan McCrum

Financial Times, 15 October 2019

FT Investigation: internal documents from the payments company point to a concerted effort to fraudulently inflate sales and profits

Comment: Dan McCrum is strongly suspected of being a shill for naked short sellers, and appears to be one of several journalists — others work for the Wall Street Journal — who routinely bash companies to further illegal naked short selling campaign.  He should be deeply investigated.

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Article: FT calls in law firm to review its reporting on Wirecard of alleged accounting fraud at Singapore office

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FT calls in law firm to review its reporting on Wirecard of alleged accounting fraud at Singapore office

Straits Times (Singapore), 24 July 2019

Editor Lionel Barber called in London-based law firm RPC after the Handelsblatt daily reported at the weekend that Wirecard had given evidence to German prosecutors alleging collusion between short sellers and employees of the Financial Times.

Comment: Use the tag cloud to see other stories featuring Dan McCrum, the journalists alleged to be in collusion with naked short sellers.

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Article: FT calls in law firm to review reporting on Wirecard

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FT calls in law firm to review reporting on Wirecard

Reuters, 23 July 2019

FRANKFURT (Reuters) – The Financial Times has hired a law firm to review its investigations into German payments company Wirecard (WDIG.DE), which has sued the newspaper over a series of reports alleging accounting irregularities.

The FT’s reporting, citing a whistleblower’s claims of fraud and creative accounting at Wirecard’s Singapore office, wiped up to $10 billion off Wirecard’s market value and triggered a police investigation in the Asian state.

Wirecard denies the allegations and has filed a suit at the Munich regional court against both the FT and its lead reporter on the stories, Dan McCrum, seeking a ruling on the merits of its case. If successful, the company would then press for financial redress.

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Article: German regulator files complaint on alleged Wirecard manipulation

Article - Media

German regulator files complaint on alleged Wirecard manipulation

BaFin targets two FT journalists and several short-sellers after reports hit payments group’s share price

Olaf Storbeck

Financial Times, 16 April 2019

The German financial watchdog has filed a criminal complaint against two Financial Times journalists and several short sellers, accusing them of potential market manipulation over reports about suspected accounting irregularities at payments processor Wirecard.

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