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Singapore police raid Wirecard office following FT reports

Reuters  |  FRANKFURT/SINGAPORE 

By Douglas Busvine and John GeddieFRANKFURT/SINGAPORE (Reuters) - Singapore police raided the premises of German payments company Wirecard in the city state on Friday following a series of investigative reports in the Financial Times alleging fraud and creative accounting.The raid intensified pressure on Munich-based Wirecard, a constituent of Germany's blue-chip DAX index that has shed $10 billion in value since the FT ran the first of a series of three investigative reports at the end of January.Wirecard has rejected the FT reports as defamatory and said earlier on Friday it would sue the ...

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First Published: Fri, February 08 2019. 21:29 IST
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