Munich Prosecutors Raid Wirecard Offices As Probe Into $2BN Accounting Fraud Heats Up

Munich Prosecutors Raid Wirecard Offices As Probe Into $2BN Accounting Fraud Heats Up

Tyler Durden

Wed, 07/01/2020 – 07:16

The German leadership has already scapegoated an industry group, the Financial Reporting Enforcement Panel, over the Wirecard disaster in the hope that the appearance of reform might be enough to placate Brussels and ESMA after Germany’s most powerful financial regulator, BaFin, was exposed as virtually complicit in the biggest corporate accounting fraud in the country’s post-war history.