financetom
Business
financetom
/
Business
/
Two more Wirecard executives charged over accounting scandal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Two more Wirecard executives charged over accounting scandal
Aug 7, 2024 9:54 AM

MUNICH (Reuters) -German prosecutors have charged another two former Wirecard executives, according to a statement from their Munich office on Tuesday, casting their net wider in investigations into one of Germany's biggest corporate scandals.

Wirecard collapsed in June 2020 over a 1.9 billion euro ($2.1 billion) hole in its balance sheet, shaking up Germany's business establishment and turning the spotlight on politicians who backed it, as well as regulators who took years to investigate allegations against the firm.

Alexander von Knoop, who served as finance chief of the now-defunct online payments company, and Susanne Steidl, its board member for product development, have been charged with several counts of embezzlement, the state prosecutor's office said.

Von Knoop has also been charged with aiding and abetting embezzlement, it added in a statement.

The two former executives allegedly waved through loans and other payments even when some were in arrears on interest and repayment was questionable, according to prosecutors.

"Wirecard AG suffered losses of several hundred million euros as a result of all these breaches of trust," the prosecutor's office said.

The law firm representing von Knoop said he had not been aware of any wrongdoing to the detriment of Wirecard AG and its shareholders by others at the company.

"At no time did Mr von Knoop have the intention or even the idea of harming Wirecard Group companies in his actions," the firm said in a statement, adding the von Knoop had cooperated with investigators throughout their investigation.

The law firm representing Steidl had no comment on the charges.

Von Knoop and Steidl join other managers facing legal action over the scandal.

CEO Markus Braun, deputy finance chief Stephan von Erffa and Wirecard's Asia representative Oliver Bellenhaus are currently on trial in Munich for alleged fraud and falsifying financial statements.

A decision is pending on whether von Knoop and Steidl will stand trial.

($1 = 0.9166 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved