Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
MANILA, Philippines (AFP) — Philippine investigators have lodged criminal complaints against a former executive of collapsed German payments firm Wirecard and others for alleged bank fraud and cybercrime offences, the justice secretary said Monday. Wirecard was once a rising star in the fintech sector until it filed for bankruptcy last year after admitting that 1.9 billion euros ($2.3 billion) was missing from its accounts. The money was supposedly held in trust in two Philippine lenders […]
MUNICH, Germany (AFP) — German prosecutors said Wednesday they have arrested the former chief executive and two board members of Wirecard for “commercial fraud”, saying investigations show that trickery was already happening in 2015. The widening probe suggests that banks in Germany and Japan as well as other investors were conned into providing funds of up to 3.2 billion euros ($3.7 billion) to Wirecard, said prosecutors, adding that the sums are now “very likely lost […]
FRANKFURT AM MAIN, Germany (AFP) — The unprecedented scandal at German payments processor Wirecard could lead to the group being sold off piecemeal, after its insolvency administrator said investors are eyeing profitable business units. A provisional committee of Wirecard creditors signed off on an international search for buyers Tuesday and confirmed lawyer Michael Jaffe as administrator. “Many investors from all over the world have already signaled interest in buying the core business or independent business […]
