According to the Reports of alleged cases of fraud at the German payment services provider Wirecard has the police in Singapore, the premises of the company searched. The police of the city-state was confirmed. Wirecard announced that the company had handed over to the police documents and cooperate with investigators. At the same time, the company dismissed, with headquarters in the vicinity of Munich, reports in the British Financial Times about alleged irregularities. This was unfounded.

The Financial Times had several articles in the past week, on Thursday once again on the matter reported. The Wirecard stock subsequently dropped significantly. Also on Friday, the value of the paper lost. Since the beginning of the year, Wirecard, has lost share to more than 20 percent of their value.

journalists of the newspaper were able to view their own information, documents of the lawyers, the Wirecard itself has commissioned. The lawyers found therefore evidence for “serious Offences”, such as forgery of documents. There is reason to believe that these counterfeits should other deeds obscure, such as fraud, breach of trust, corruption or money laundering.

Wirecard rejects the allegations. The financial Supervisory authority Bafin is examining whether it could have been the crash of the stock last week to market manipulation acted. The Munich public Prosecutor’s office has initiated therefore, an investigation against unknown. The authority is investigating possible market manipulation, said a spokeswoman. The company had filed a complaint with the public Prosecutor’s office. The authority is due to be tested but always also of its own motion, whether you run a calculation procedure. Against Manager of Wirecard even the Prosecutor looks like the beginning of a suspicion of market manipulation.

Wirecard had made last autumn, headlines, as the company extruded Commerzbank Dax. At this time, the company more than 23 billion euros in value, ahead of even the Deutsche Bank. Wirecard was founded in 1999 at the peak of the Internet bubble, and quickly focused on the payment transactions on the Internet.

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