Prosecutors accused Braun and two other unnamed executives of conspiring to obtain US$3.7 billion in loans. The firm, which has filed for bankruptcy, declined to comment. (Bloomberg)
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Prosecutors accused Braun and two other unnamed executives of conspiring to obtain US$3.7 billion in loans. The firm, which has filed for bankruptcy, declined to comment. (Bloomberg)
Talking point: The fallout from the Wirecard scandal is prompting serious questions about European financial regulations and the fintech industry. Opposition politicians have criticized the German regulator, BaFin, for not acting on complaints about Wirecard it received as early as 2008. Regulators in the U.S. and U.K. froze Wirecard-related accounts in recent weeks andthe head of a French bank mused: ““When will we wake up to what a fintech really is?” German Chancellor Angela Merkel is the latest to be caught up. Merkel lobbied for Wirecard to Beijing after her government was informed of potential problems with the company.
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