Wirecard’s Regulator Faces Criminal Probe as Scandal Expands
- Frankfurt prosecutors open investigation after February visit
- Case prompted by citizens’ complaints over handling of company
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The scandal over the collapse of Wirecard AG expanded as German financial regulator BaFin faces a criminal probe into how it oversaw the payment processor and whether some of the agency’s staff illegally traded the stock.
Frankfurt prosecutors said Monday they opened the probe after reviewing information collected from BaFin in February when they visited the regulator’s offices.