7/17, 7:18 PM (Source: TeleTrader)
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Chart for: WIRECARD AG

Scholz criticized by parl't over Wirecard handling

Members of Germany's parliament criticized on Friday the country's Finance Minister Olaf Scholz over his handling of the Wirecard scandal after it was revealed he had known about the irregularities in the company's operations for 18 months.

"The fact that Olaf Scholz was informed as early as early 2019 about the Wirecard case strengthens the sense of a collective failure of responsibility," the Green Party's Danyal Bayaz said, while Angela Merkel's Democrats urged the minister to stop "looking away" and focus on omissions the Federal Financial Supervisory Authority (BaFin) has made.

Scholz previously said the German oversight legislation could be changed following the fraud and money laundering inquiry launched into Wirecard.

Breaking the News / JR