2/8/2019, 1:19 PM (Source: TeleTrader)
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Chart for: WIRECARD AG

Singaporean police raids Wirecard’s offices – report

The Singaporean police raided the local office of Wirecard on Friday as part of the investigation into the fintech company's allegedly fraudulent practices, the Financial Times reported. A source familiar with the situation told reporters that ten officers "swooped" Wirecard's office this morning.

The police operation was conducted after the publication of three articles suspecting the financial services provider of using forged and backdated contracts.

The Wirecard management today announced it will take legal actions against the FT for, as they called it, "unethical reporting" after which the firm's stock price lost around 32%.

Breaking the News / MA