British businessman arrested on Wirecard-linked fraud charges British businessman arrested on Wirecard-linked fraud charges A British businessman has been arrested and charged in Singapore with fraud for allegedly instructing a company, with ties to the collapsed Germans payments company Wirecard, to forge a letter according to widespread reports. James Henry O’Sullivan has been accused of ordering accounting firm Citadelle Corporate Services to fabricate a document, according to the Financial [...]
German MPs fail in bid to publish ‘dynamite’ report on EY’s Wirecard audits German MPs fail in bid to publish ‘dynamite’ report on EY’s Wirecard audits Germany’s highest court has rejected an attempt by MPs to force the publication of an unredacted report into EY’s audits of Wirecard, according to reports. The lawsuit was filed by MPs who had investigated the Wirecard fraud, one of the biggest corporate scandals, according to the Financial Times. The Federal High Court of Justice has [...]
City Moves: Who’s switching jobs in the Square Mile this week? City Moves: Who's switching jobs in the Square Mile this week? City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
Staff hauled out millions of euros in cash from Wirecard’s HQ in Aldi and Lidl shopping bags April 23, 2021 Wirecard employees hauled out millions of euros in cash from the group’s Munich headquarters, according to former employees. Former employees told Munich police that staff repeatedly removed large sums of cash in Aldi and Lidl plastic bags from Wirecard’s HQ, the Financial Times first reported. The practice started as early as 2012, and suggests fraudulent [...]
German accounting watchdog head to step down in wake of Wirecard scandal February 24, 2021 The head of Germany’s accounting watchdog in stepping down, after coming under fire for failing to spot wrongdoing ahead of the collapse of the payments company Wirecard. The agency, formally known as the Financial Reporting Enforcement Panel (FREP), said in a statement on Wednesday that President Edgar Ernst is leaving his post at his own [...]
German audit watchdog head faces investigation over Wirecard share trading December 11, 2020 Head of German audit watchdog Apas Ralf Bose is facing an investigation after admitting buying and selling shares in Wirecard while the regulator was investigating the troubled payments firm. Bose, who has headed up German audit watchdog Apas since 2016 and is a former senior partner at KPMG, told a German parliamentary inquiry into [...]
German regulator suspects EY knowingly issued ‘factually inaccurate’ Wirecard audit December 1, 2020 Germany’s audit watchdog Apas suspects EY partners knew they were issuing a “factually inaccurate” audit for Wirecard in 2017. Apas has reported EY to prosecutors after believing the big four firm may have acted criminally during its work for payments company Wirecard, which collapsed into insolvency earlier this year. According to the FT, EY audited [...]