German Finance Minister Knew of Wirecard Issues a Year Before Collapse
- Report reveals early involvement of German finance minister
- Scholz’s deputy had birthday meeting with Wirecard’s then-CEO
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German Finance Minister Olaf Scholz was aware of potential market manipulation at Wirecard AG almost a year and a half before the company collapsed, putting pressure on a key figure in Angela Merkel’s government.
Financial watchdog BaFin informed Scholz in February 2019 about the case “because of the suspicion of a violation against the prohibition of market manipulation,” according to a report by the Finance Ministry seen by Bloomberg.