Two more Wirecard executives charged over accounting scandal

Wirecard AG

06/08/2024 12:55

MUNICH, Aug 6 (Reuters) - German prosecutors have
charged another two former Wirecard  WDIG.H  executives,
according to a statement from their Munich office on Tuesday,
casting their net wider in investigations into one of Germany's
biggest corporate scandals.
    Wirecard collapsed in June 2020 over a 1.9 billion euro
($2.1 billion) hole in its balance sheet, shaking up Germany's
business establishment and turning the spotlight on politicians
who backed it as well as regulators who took years to
investigate allegations against the firm.
    Alexander von Knoop, who served as finance chief of the
now-defunct online payments company, and Susanne Steidl, its
board member for product development, have now been charged with
several counts of embezzlement, the state prosecutor's office
said.
    Von Knoop has also been charged with aiding and abetting
embezzlement, it added in a statement.
    The two former executives allegedly waved through loans and
other payments even when some were in arrears on interest and
repayment was questionable, according to prosecutors.
    "Wirecard AG suffered losses of several hundred million
euros as a result of all these breaches of trust," the
prosecutor's office said.
    The law firm representing Steidl had no comment on the
charges. Von Knoop did not respond to attempts to reach him by
telephone. He previously told a parliamentary committee of
enquiry that he had known nothing about criminal activities.
    Von Knoop and Steidl join other managers facing legal action
over the scandal.
    CEO Markus Braun, deputy finance chief Stephan von Erffa and
Wirecard's Asia representative Oliver Bellenhaus are currently
on trial in Munich for alleged fraud and falsifying financial
statements.
    A decision is pending on whether von Knoop and Steidl will
stand trial.
    
    ($1 = 0.9166 euros)

 (Reporting by Alexander Huebner and Joern Poltz in Munich,
Writing by Rachel More, Editing by Miranda Murray and Jan
Harvey)
 ((rachel.more@thomsonreuters.com;))