
Germany’s SEC Dismissed a Decade of Warnings About Wirecard - bitcurious
https://www.wsj.com/articles/how-germanys-sec-dismissed-a-decade-of-warnings-about-wirecard-11594907212
======
bitcurious
I’d previously read about BaFin investigating FT journalists but have never
seen a comprehensive list of all of the times their protections of Wirecard.
This jumped out at me:

> An early chance to look into Wirecard came in 2008, when an association of
> small shareholders filed a suit with a Munich court targeting Wirecard’s
> accounting practices. It alleged Wirecard counted customer deposits as its
> own cash and that its margins were suspiciously high.

> BaFin opened a probe into the accusers. Wirecard had complained after the
> suit caused its stock to slump. Two former officials of the staid
> association were charged, convicted of market manipulation and handed
> suspended prison sentences.

I’m struggling to see a non-corrupt explanation to this pattern of behavior.

