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12 July 2022 (AFR) – Wirecard forged client details to secure $1.3b SoftBank investment

(12 July 2022, AFR, p26, from Financial Times) – This delve into the recent Wirecard fraud case is incredulous, due to the huge amount of money embezzled.

“Frankfurt/London | Wirecard forged client data and lied about internal records to secure a €900 million ($1.3 billion) investment from SoftBank that was seen as a vote of confidence in the German payments group after the Financial Times started to raise questions about its business in 2019.

“Details of the deception, which is central to the Munich prosecutors’ criminal case against former chief executive Markus Braun, show the lengths to which Wirecard went to secure investment from the Japanese investment conglomerate.”

Read the full story at AFR.com. https://www.afr.com/companies/financial-services/wirecard-forged-client-details-to-secure-1-3b-softbank-investment-20220711-p5b0tl

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