Police in Singapore Search Wirecard offices: price falls

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.


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To the detail view

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.

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