Wirecard’s insolvency manager, Michael Jaffé, filed a lawsuit in a court in Stuttgart against accountancy firm EY. The lawsuit claims 1.5 billion euros (about $1.66 billion) in damages over EY’s role in auditing Wirecard’s books before the German payments company collapsed in 2020, Reuters reported...
More than three years after its collapse, Wirecard’s former finance chief has been accused of fraud. Burkhard Ley, who spent 11 years as the chief financial officer of the German payments firm and then worked as an outside advisor, was charged Thursday (Dec. 14) with...
Pav Gill helped blow the whistle on wrongdoing at German payment company Wirecard. Now, he’s reportedly launching a platform to help others do the same at their firms. Gill, who headed the legal department for Wirecard’s Asia-Pacific operations, said in an interview with Bloomberg News Tuesday (Sept. 5)...
Two former Wirecard executives have been sentenced to prison in Singapore. James Wardhana, who was the international finance process manager of Wirecard Asia, and Chai Ai Lim, who was the head of finance at Wirecard Asia, were sentenced to 21 months and 10 months respectively...
December 21, 2022
Phone number masking cases have caused European authorities to issue advice on how to prevent fraud. While the big European fraud trial of the moment is the Wirecard case, in which former executives of the German payments company are trying to pin the blame on each other for embezzling from the firm’s clients, another case […]
December 06, 2022
Thursday marks a red letter day in annals of fraud — the type that destroys companies and careers. No, not that crypto exchange. You might be forgiven for automatically defaulting...
June 29, 2020
Author George Santayana famously wrote: “Those who cannot remember the past are condemned to repeat it.” And Mark Twain once wrote: “History doesn’t repeat itself, but it often rhymes.” Might...
June 01, 2020
The new coronavirus had an immediate and profound effect on the financial services industry, as brick-and-mortar bank branches closed to protect public health. Those closures meant that many consumers in...
April 19, 2024
A German regulator has reportedly concluded that EY’s audit work and quality control regarding the now-defunct payments firm Wirecard was marked by “grave” and “repeated” violations of professional duties. The regulator, Apas, said this in a review that was published Friday (April 19) and ended a multiyear investigation, the Financial Times (FT) reported Friday. EY did not immediately reply […]
December 29, 2023
Wirecard’s insolvency manager, Michael Jaffé, filed a lawsuit in a court in Stuttgart against accountancy firm EY. The lawsuit claims 1.5 billion euros (about $1.66 billion) in damages over EY’s...
December 14, 2023
More than three years after its collapse, Wirecard’s former finance chief has been accused of fraud. Burkhard Ley, who spent 11 years as the chief financial officer of the German...
September 05, 2023
Pav Gill helped blow the whistle on wrongdoing at German payment company Wirecard. Now, he’s reportedly launching a platform to help others do the same at their firms. Gill, who headed...
