The FT has shed a light on #KPMG’s double role in the #Wirecard scandal, outlining the controversial connection existing between the advisory company that last April revealed the Fintech fraud. This points out that #conflictsofinterest coupled with weak #corporategovernance, as well as complacency from the...
After the fraud scheme, Wirecard’s links to the Italian Mafia have also been discovered. The firm processed payments for Maltese gambling companies that laundered money for the Ndrangheta. A good ESG analysis would have been effective in detecting Wirecard's controversies. The German payment service provider Wirecard, which went bankrupt...
Many companies worldwide have been receiving financial state aids to counteract the effects of the economic crisis brought by COVID19. Different rules and limitations apply to approved aids and beneficiary firms in Europe and the US. Since the advent of coronavirus, businesses have been receiving state...
Wirecard’s share price has collapsed after the exposure of its fraud scheme. On Thursday, June 18th 2020, Wirecard’s auditor, EY, stated that, when carrying out its 2019 audit of the firm, it could not find $2 billion in the company’s accounts, funds that the German firm later...
Slaughterhouses worldwide have gained attention as they have become COVID19 vectors, with plants forced to close due to significant infection breakouts among workers. The Covid-19 pandemic has been linked to food since the very beginning. In the last months, slaughterhouses worldwide have gained attention as they have...
More than 400,000 German car owners seeking compensation from the carmaker over emissions test cheating have signed up to a landmark collective lawsuit, which is the largest legal claim of its kind in modern German history. Volkswagen has already paid out more than €30bn around the world...
German authorities in Braunschweig have formalized the allegations of Volkswagen chief executive Herbert Diess, chairman Hans Dieter Poetsch and former CEO Martin Winterkorn of market manipulation in connection with the diesel emissions scandal that dates back to September 2015. The firm admitted in 2015 using illegal software to cheat...