DThe Singapore police invaded the Payment Manager in the Asian city state on Friday after a series of reports of alleged financial irregularities at Wirecard. This was confirmed by a spokeswoman for the police. The news caused the Wirecard shares to collapse again by 14 percent.
The company said that Wirecard had a meeting with law enforcement officials at the Singapore headquarters on Friday morning and the police provided documentation on the investigation into "defamatory allegations" in Financial Times reports.
Wirecard had assured the authorities Thursday of full cooperation in the investigation, it said in the message. "After such negative reporting in the media, starting investigations is a normal process," said the payment processor.
Wirecard against the Financial Times
Wirecard had announced legal action against the newspaper, which had attacked several employees of the company in the articles. "We confirm that the allegations against Wirecard employees are unfounded." The company said Friday: "Wirecard is legally against FT and its unethical reporting." The strategic step had initially been positive for investors. In the Dax, the battered material continued on Friday afternoon, at 5.1 percent, before it crashed again.
In recent days, several messages from the newspaper had the Wirecard share crashed several times, billions in stock market value was destroyed. Wirecard has repeatedly rejected the accusations. Initially no advice was received from the FT. On Thursday, an FT article had forged false document falsification and account manipulation in Singapore. The newspaper reported, among other things, with reference to the existing documents, two German top managers had "at least some knowledge" of the incidents.
The most recent article published on Thursday said: "Wirecard employees are being vilified with unproven and false claims," the company said Friday. "We will use all available legal means to protect the company and, in particular, our employees and their privacy rights."
Wirecard had already stated on Monday with regard to previous reports that an investigation by the law firm Rajah & Tann in Singapore had found no evidence of penal misconduct.