Wirecard-credit: infidelity investigations against KfW-daughter
The Wirecard scandal is already unpleasant enough for the Minister Altmaier and Scholz. Now state lighting advocates, the credit business of a subsidiary of the state-owned KfW. This is also likely to play in the upcoming reappraisal in the Parliament a role.
Before the Start of the Bundestag Committee of inquiry to the Wirecard scandal, there is new Trouble for the Federal government.
The Frankfurt public Prosecutor’s office determined against the state’s promotional Bank KfW in connection with a lost million loan from the KfW subsidiary Ipex-Bank to the Wirecard group. KfW Ipex-Bank confirmed on Wednesday in Frankfurt/Main the investigation.
Federal Minister Peter Altmaier (CDU) and Finance Minister Olaf Scholz (SPD) must now adjust to more questions in the investigation Committee of the Bundestag. Altmaier is the Chairman of the KfW Board of Directors, Scholz and his Deputy. The body of representatives of the Federation, the Länder and the economic and trade unions.
The Bundestag wants to use on Thursday the planned investigation Committee. “It is high time that this example is processed failure lots of scandal and the alleged Authorities in the Parliament with the sharp agent of a Committee of inquiry,” said the parliamentary Secretary of the FDP parliamentary group, Florian Toncar.
A spokesman for the KfW Ipex-Bank said on request: “We can confirm that the police and the Prosecutor’s office in the business premises of the have carried out, KfW Ipex-Bank investigation in connection with our financing for Wirecard.” Previously, the “Süddeutsche Zeitung had reported” about it. Accordingly, the Prosecutor’s office determined against the persons Responsible for a Bank because of the suspicion of infidelity. In the case of the KfW Ipex-Bank, it was said, the Institute is cooperating “in the framework of this investigation with the investigating authorities”.
The KfW subsidiary Ipex-Bank had Wirecard borrowed 100 million euros. The Institute is accused of the information that the credit line granted to protect without with Hedging against possible losses. From the Frankfurt public Prosecutor’s office was received on Wednesday first, no opinion on this.
In the meanwhile, the German stock index (Dax) flown Munich payment service provider had given in June, air bookings of 1.9 billion Euro and subsequently filing for insolvency. The Munich Prosecutor’s office assumes that Wirecard had since 2015, with the help of this non-existent billion in fictitious profits and the banks and investors over three billion euros defrauded. They determined because the commercial band fraud.
On the orders of the government of Singapore, Wirecard may need to set up the business in the Southeast Asian island state now. Financial supervision MAS ordered on Wednesday that the local Wirecard companies to 14. October payments were allowed to deal and all customers will have to pay back the funds.
Singapore is a major site of the alleged billion fraud. The city-state is both the seat of the Wirecard Asia holding as well as a local subsidiary. A Trustee in Singapore, Wirecard had, according to the current investigation, for years, defrauded billions of dollars of booked. The Singaporean financial supervision determined since one and a half years.
The immediate trigger for the ban was, at least according to the MAS, however, that Wirecard reported himself incapable. Wirecard have informed the authority that the company is in the situation, “a significant number of retailers continue to payment services”, – stated in the message. The financial supervision had been arranged beforehand that Wirecard had to capture all the customers ‘ funds to local banks and to customers recommended to seek other payment service providers.
The investigation Committee of the Bundestag to clarify the extent to which the Federal government and authorities were informed about occurrences at Wirecard, and whether they have fulfilled their Supervisory duties. FDP-expert Toncar criticized, the coalition parliamentary groups had decided to reduce the size of the Committee to the legal Minimum of nine members, as follows: “It therefore looks as if the coalition wants to make the Committee work hard.” The decision to leave all announcements to the investigation of the Case active help than lip service to appear. Instead, the government seem to fear the Committee.