(Bloomberg Opinion) -- Deutsche Bank AG is lining up to buy a piece of history — a remnant of scandal-ridden Wirecard AG. It’s not the only one sniffing around. But however many expressions of interest there may be, and however credible the buyers, the proceeds from selling off even the best assets of the German payments company will be tiny relative to the losses incurred.When Wirecard was a stock market darling, investors weren’t piling into the shares because of its Wirecard Bank subsidiary, the piece that potentially interests Deutsche Bank. The lending arm was a sideshow as the rest of the operation appeared to expand. Of course, the growth reported by the group is now heavily in doubt following the admission that the accounts overstated cash balances by 1.9 billion euros ($2.1 billion).Deutsche Bank says it is considering providing financial support for Wirecard Bank should it be required. Precisely what that means is unclear. Wirecard’s bank is not...
Singapore authorities said they launched an investigation into Citadelle Corporate Services, Senjo Group and its subsidiaries after scrutinising collapsed German payments firm Wirecard's local operations. The investigation was for "suspected falsification of accounts," and "for carrying on a trust business without a licence", the Commercial Affairs Department (CAD) - the police unit that deals with white collar crime - and the Monetary Authority of Singapore said in a statement late on Friady. MAS said last week it was working with the CAD and Singapore's accounting regulator to scrutinise local operations of Wirecard, which filed for insolvency last month....
A Turkish jet executive on trial over Carlos Ghosn's dramatic escape from Japan told a court on Friday that the former Nissan boss spoke about Hollywood making a movie of his getaway as he flew in a private jet to Beirut. Ghosn, once a leading light of the global car industry, was arrested in Japan in late 2018 and charged with underreporting his salary and using company funds for personal purposes, charges he denies. The ousted chairman of the alliance of Renault , Nissan Motor Co and Mitsubishi Motors Corp had been awaiting his trial under house arrest in Japan when he escaped in December via Istanbul to Beirut, his childhood home....
