German opposition seeks parl inquiry on Wirecard

Monday, 29. June 2020 18:06

Members of Germany's opposition requested on Monday the launch of a parliamentary inquiry into the Wirecard accounting scandal.

"The role of the finance ministry must be examined, as reports of irregularities have been coming in for quite some time," legislator Alexander Radwan said. Member of parliament Frank Schaeffler added the fact national financial regulatory BaFin did not take action earlier in spite of indications of irregularities in the meantime is "absurd."

Wirecard AG recently filed an application for insolvency amid an accounting scandal over a missing €1.9 billion. In spite of that, its shares tripled and surged almost 190% earlier in the day.

Related Links: Wirecard AG
Author:
Breaking the News / JR