Germany’s finance minister denies allegations of the Wirecard fiasco

The German finance minister has denied any guilt in the Wirecard fraud amounting to several billion euros.

Olaf Scholz joins a long list of politicians and officials who deny responsibility for incompetent oversight and what critics of lawmakers see as a biased proponent of Wirecard that failed to prevent Germany’s biggest postwar scam.

The case, along with the scandal with Enron in the United States, led to the resignation of the heads of two German supervisory bodies, the revision of regulations and the investigation of criminal cases.

Wirecard, which began processing gambling and pornography payments before becoming a hotbed of technology and finally the biggest scam in Germany, threw a cloud at Scholz’s claim to replace Angela Merkel as chancellor in the September election.

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Some lawmakers have challenged his findings, while one has apologized.

A public investigation has revealed contacts between Wirecard, former intelligence officials and senior government officials, including Merkel, who, unaware of the brewing scandal, lobbied for the company in China.

The company filed for insolvency last year, owing creditors nearly $ 4 billion after disclosing 1.9 billion euros in its accounts.

EY said it acted professionally and accused the fraud of “an extremely complex criminal network designed to deceive everyone.”

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