The allegations against the Dax Wirecard group do not stop. According to a report, the company would have systematically released funds aside – we are talking about hundreds of millions of euros.
New suspicions against insolvent group Wirecard: The payment processor could have set aside hundreds of millions of euros in the months leading up to its bankruptcy. This reported the “Süddeutsche Zeitung”.
In addition, Wirecard would have obtained loans amounting to 800 million euros from its banking consortium, writes the “Süddeutsche Zeitung”, citing internal documents. The consortium includes banks such as Commerzbank and Landesbank Baden-Württemberg.
Wirecard then loaned this money – without any guarantees – to questionable business partners in Asia or Saudi Arabia. With these, the trace of funds is lost.
Authorities investigate Wirecard managers
An example: the company Al Alam Solutions of Saudi Arabia would have received a loan of 240 million euros in the first quarter, according to the “Süddeutscher Zeitung”. It apparently broke up in May – it’s unclear where the Wirecard loan went. According to the “Süddeutscher Zeitung”, lawyers for ex-CEO Markus Braun “firmly reject” the allegations.
The group had to admit in mid-June that there is apparently not 1.9 billion euros which should be in accounts in Asia and which appeared on the balance sheet. A week later, the group filed for bankruptcy.
Several authorities around the world are now investigating the role that dubious partner companies played in the accounting scandal. The Munich prosecutor’s office is also investigating several executives and ex-CEOs Braun – among other things on suspicion of account forgery and “gang fraud”.