Fintech

Germany investigates possible money laundering by Wirecard execs

Wirecard has long been dogged by allegations from investors that the company used third-party partners to generate fake revenue, or claimed to hold cash that wasn’t there

German prosecutors are looking into possible money laundering by executives at Wirecard, adding to ongoing probes related to potential fraud and fake accounting at the insolvent payments firm.

A spokeswoman for the Munich public prosecutor said it was conducting several legal cases related to possible money laundering at Wirecard, the oldest dating as far back as 2010. Some investigations are ongoing.

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