Technical Staff
June 30, 2021
After acknowledging that €1.9 billion ($2.3 billion) allegedly held in trust accounts didn’t exist, Wirecard filed for insolvency in June 2020. It was also discovered to be heavily in debt, and it was accused of falsifying financial accounts for years.
As a result, the Bundestag (German Parliament) conducted a thorough investigation into the scandalous collapse of the German payment-processing company Wirecard and delivered its final report to Bundestag President Wolfgang Schäuble on June 22, 2021.
Germany: CDU lawmaker blames “silent” Scholz over Wirecard scandal as parliamentary probe concludes – June 22, 2021
“Lawmakers from opposition parties and Chancellor Angela Merkel’s Union bloc criticized the role of Social Democrat Scholz in failing to prevent the scandal. ” 1
Lawmakers asserted the failure of the finance minister and finance ministry in preventing the Wirecard massive fraud. “Christian Democrat (CDU) lawmaker Matthias Hauer told reporters that Scholz and the Finance Ministry “looked the other way, did not act and made the investigation difficult.”” 2
In addition, “German lawmakers also accused auditors Ernst & Young (EY) of numerous oversight failings and mishandling of the biggest fraud scandal in postwar Germany.”3
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Notes
1 Read more on https://www.dw.com/en/wirecard-probe-finds-german-finance-minister-auditors-at-fault/a-57995100
2 Ibid
3 Ibid
