Insolvent Dax-Group
Investigation Committee on the balance-sheet scandal Wirecard launches
According to the current state of the investigation Wirecard is made for years of losses. Photo: Peter Kneffel/dpa
© dpa-infocom GmbH
It is probably the biggest fraud scandal of the post-war history. The Supervisory authorities of the Dax-listed company Wirecard around led by the nose. A Committee of inquiry should now be investigated, what went wrong and whether it is touched, Wirecard, about even be aware of it with velvet gloves.
In the Bundestag 15.00), the long-awaited Committee of inquiry starts today (the spectacular accounting scandals around the former Dax-listed company Wirecard.
The deputies want to find out in the coming months, among other things, whether the German Fintech company was framed as a rising stock market star, and the financial group of the Supervisory authorities, in spite of Indications of irregularities with kid gloves.
The now-insolvent Dax-listed company had given in the summer air bookings of 1.9 billion euros. The company sat as a service provider for cashless payments at the tills and on the Internet at the interface between merchants and credit card companies – in a competitive market.
According to the current state of the investigation Wirecard is made for years of losses. The Munich Prosecutor’s office assumes that the company reported for 2015 fictitious profits. More than three billion euros could be lost. The financial supervision Bafin and auditors in the case of the criticism.
The scandal revealed, “as the longing for a Fintech “Made in Germany”, the Federal government, supervisors and the state government of Bavaria for the blind has made,” said the Chairman of the Left in the Committee, Fabio De Masi, prior to the Start. The Central questions in the political reappraisal of the case will be the exact time when the Federal government of irregularities knew and whether it has done too little about it.
Finance Minister Olaf Scholz presented as a response to the scandal together with the Minister of justice, Christine Lambrecht (both SPD) is already an action plan for financial regulatory Reform. The Opposition accuses him of, however, is to want to own failure as the Supreme chief of the financial Supervisory distract. He was hiding behind accountants and the alleged loopholes in the law.
It is safe to say that Scholz is loaded in the investigative Committee as a witness – as well as economy Minister Peter Altmaier (CDU), and even Chancellor Angela Merkel, who had put in last fall for a trip to China for Wirecard to stuff. A Committee of inquiry has committees more rights than an ordinary member of Parliament. He can request witnesses and experts shall be heard and access to the files.
Controversial at present, who shall direct the investigation Committee. According to parliamentary practice, the management of the AfD would be group, which has nominated your financial politicians and Gottschalk. Open, however, whether the other members of the Committee to choose him. The should each decide for themselves, – said the Chairman of the Union Committee, Matthias Hauer. It is crucial that the Committee driving the enlightenment and the AfD is noticed hardly.
