Wirecard filed for insolvency past year.
A British antheral has been charged successful Singapore implicit a fraud linked to collapsed German payments steadfast Wirecard, authorities said Thursday, arsenic the fallout from the ungraded continues to spread.
Wirecard filed for insolvency past twelvemonth aft admitting that 1.9 cardinal euros ($2.2 billion) missing from its accounts did not exist, revelations that stunned Germany.
James Henry O'Sullivan, 46, was charged astatine a Singapore tribunal Wednesday, a tribunal authoritative said.
A complaint expanse seen by AFP said the Briton successful March 2017 got institution manager R. Shanmugaratnam to contented a missive showing his steadfast held 86.4 cardinal euros (around $100 million) successful escrow for Wirecard.
In world Shanmugaratnam's company, Citadelle Corporate Services, "did not support the said account", according to the charges.
O'Sullivan could beryllium jailed for up to 10 years, oregon fined, oregon both, if convicted.
Citadelle, a Singapore concern medication firm, has been astatine the centre of investigations successful the city-state related to Wirecard's collapse.
Shanmugaratnam, who was alleged to person falsely claimed successful letters successful 2016 and 2017 that the steadfast held ample amounts successful accounts connected behalf of Wirecard, was charged past year.
Wirecard's woes began successful January 2019 with a bid of Financial Times articles alleging accounting irregularities successful its Asian division, headed by main operating serviceman Jan Marsalek.
Marsalek remains astatine ample aft failing to crook himself successful to German investigators.
The Wirecard implosion, which has drawn comparisons with the Enron accounting ungraded successful the United States successful the aboriginal 2000s, has been described arsenic "unparalleled" successful Germany by Finance Minister Olaf Scholz.
The company's erstwhile main enforcement Markus Braun and respective different apical executives person been arrested connected fraud and wealth laundering charges implicit the monolithic scam.
© 2021 AFP
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