1/30/2019, 4:33 PM (Source: TeleTrader)
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Chart for: WIRECARD AG

Wirecard exec suspected of fraud - report

Edo Kurniawan, a senior executive from fintech company Wirecard AG's branch in Singapore, was suspected of using forged and backdated contracts in a series of transactions, the Financial Times reported on Wednesday.

The suspicious transactions were examined in a presentation called "Project Tiger Summary," which showed they potentially violated Singapore laws, including "falsification of accounts" and "money laundering." They were reportedly ordered by Kurniawan, who is overseeing Wirecard's accounting in the Asia-Pacific region.

FT stated the senior official declined to comment, while the company called the report "false, inaccurate, misleading and defamatory."

Breaking the News / MD