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Wirecard: Almost 500 transactions from BaFin employees are known
Insider Trading: The Unknown Insider
Wirecard: Up to 350 creditors expected
Investigative committee - parliamentarians insist on personal testimony from ex-Wirecard boss Braun
Auditors run storm against new federal liability rules
Is Grenke the new Wirecard?

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The financial supervisory authority Bafin is now aware of almost 500 private transactions of their employees with reference to the scandalous company Wirecard.
Can authority employees turn their specialist knowledge of collapsing companies like Wirecard into money? A politician now wanted to know exactly.
The federal government has received a lot of criticism for its regulatory plans. The auditing industry doubts whether the new rules can prevent a new Wirecard case
The financial services provider Grenke is targeted by the notorious shortseller Fraser Perring. Many of his allegations are reminiscent of the Wirecard accounting scandal. But how similar are the cases really?

Saturday,14. November 2020- ISAAN-NEWS und ISAAN-LIVE - independent, none political, neutral - reports!

BaFin Insider Champion

BaFin employees are the kings of insiders This emerges from information from the Federal Ministry of Finance to the FDP deputy Frank Schaeffler, which is available to the German Press Agency. Previously, the "Rheinische Post" reported about it.

Can that be possible - government employees waste their time and with it our tax money with illegal stock deals and get away with it!

The former DAX group Wirecard, which is now insolvent, granted air bookings of 1.9 billion euros in June and subsequently filed for bankruptcy. The company was sitting as a service provider for cashless payments at checkouts and on the internet at the interface between dealers and credit card companies. The Munich public prosecutor's office assumes that the company has reported fake profits since 2015, and is investigating for professional gang fraud. To the political enlightenment strives Investigative Committee of the German Bundestag.
The Bafin is currently examining private stock market transactions of its employees, in which the price of Wirecard AG played a role, for example buying or selling shares the company. There is a suspicion that employees of the financial supervisory authority could have used a possible information advantage for private gain.
495 private transactions were reported to Bafin between the beginning of 2018 and September 30, 2020, plus two transactions in 2017. 88 transactions were completed in 2018, 137 in 2019 and a total of 265 in the first half of 2020, 106 of them in June the Month in which Wirecard filed for bankruptcy and many shareholders sold their papers in panic sales. A total of 85 Bafin employees were involved. So far, only five private Wirecard-related stores are known for July and August.
The FDP MP Schaeffler said: "It is shocking what comes to light in the financial supervision. An end does not seem to be in sight." The Bafin go with me Rules of conduct for their own employees too slack.
The Munich District Court has scheduled the first meeting of the creditors for Wednesday and Thursday of next week, as the court announced on Friday. There will Insolvency administrator Michael Jaffe report how the situation is from his point of view. According to the previous investigations by the Munich public prosecutor's office could the Wirecard management have defrauded lending banks and investors with the help of incorrect balance sheet figures by over three billion euros. Are not included at the same time the immense price losses of the Wirecard share.
And the ex-CEO Markus Braun, who is in custody, will have a semi-public appearance next week: He should be on the investigative committee of the Bundestag testify.

The unknown insider

Can authority employees turn their specialist knowledge of collapsing companies like Wirecard into money? A politician now wanted to know exactly.
In the end, only stricter rules against insider trading by authorities will help. "Both the federal government, the supervisory authorities and the Bundestag need prevention systems and sufficient reporting requirements against insider trading, "said Fabio De Masi, the financial policy spokesman for the parliamentary group of the Left, opposite ZEIT ONLINE.
It should be made more difficult for employees to take advantage of professionally acquired specialist knowledge, for example through private stock transactions. The Bundesbank could be a role model has imposed strict rules of conduct on its employees for two years.
The demand goes back to a request from De Masis to the federal government, which has now been answered. This was preceded by the knowledge from the summer that employees of the Federal Financial Supervisory Authority (BaFin) traded privately in shares of the payment service provider before the collapse of Wirecard. Whether that too Employees of three other organizations involved in the supervision and control of companies, he wanted to know.
No knowledge
It was about the state audit supervisory body (APAS), which monitors auditors. To the Financial Intelligence Unit (FIU) of the customs administration. And about the German Audit Office for Accounting (DPR), which is often called the accounting police, but is organized as an association under private law. All three are coming often at an early stage with suspected white-collar crime.
However, it remained open whether the employees there had exploited a possible knowledge advantage for private financial transactions. The federal government has its reply letter According to "no knowledge" about whether financial instruments related to Wirecard have been traded there since January 2019.

350 believers lose

Despite the Corona restrictions, the creditors' meeting of the insolvent payment processor Wirecard is to take place with up to 350 participants. The Munich District Court confirmed today that the event will be held next Wednesday (November 18) in the Loewenbraeukeller in Munich.
"In consultation with the insolvency administrator, the court takes into account the Covid-19 pandemic through extensive security measures," said a statement. The large ballroom usually seats 3,000 people, but only 350 are allowed in the pandemic, according to a spokesman for insolvency administrator Michael Jaffe said. Good ventilation is ensured.

Parlament besteht auf raun's Aussage

Braun refuses to appear in person due to corona risk. Video conferences not accepted
The members of the parliamentary committee of inquiry into the Wirecard scandal want to force the imprisoned ex-boss Braun to appear. His lawyers were allowed to sue the summons.
It would be a spectacular performance that has never been seen before in the history of the Bundestag: three detainees on remand before a parliamentary one Committee of inquiry. And that in what is probably the greatest financial scandal in Germany: the collapse of the financial services provider Wirecard. Should be on Thursday Ex-CEO Markus Braun and former managers Stephan Freiherr von Erffa and Oliver Bellenhaus testify before the parliamentary body.
According to SPIEGEL information, there is likely to be a legal squabble about the summons of the three prisoners. Because Braun's lawyers reject you personal appearance of her client in Berlin. Braun would have to be transported from the Stadelheim correctional facility to the capital. Just in case one Compulsory demonstration Braun announces defense attorney Alfred Dierlamm, to want to "take legal action against this", as he wrote in a letter to the secretariat of Committee of inquiry writes, which is available to SPIEGEL. Rather, his client wants to make a video statement.
The arrested Wirecard boss is afraid of Corona
But resistance is stirring among the members of the committee, above all the three chairmen of the Greens, Left and FDP. Hold on to that "An interrogation with the presence of the witnesses in the meeting room is necessary," the three parliamentarians write to the other members of the committee. They do not want to accept the argument of the Braun lawyers, who lead their clients to have a high risk of corona infection and the high costs of transporting them to the field.
Already with the statement of the "Financial Times" journalist Dan McCrum last week, who traveled from London, a corresponding agreement with the Berlin Senate was been made. A personal appearance is important, "especially to assess the credibility of a witness". It is about "its entire behavior, including his body language ", of which the committee wants to make" an immediate impression ", write the MPs Fabio de Masi (left), Florian Toncar (FDP) and Danyal Bayaz (Gruene) continues.
The three opposition politicians assumed that "the other groups will continue to see it that way". A spokesman confirms this at the request of SPIEGEL the SPD that there is "an intergroup consensus" that the witnesses should testify personally. "The committee secretariat is preparing accordingly," said the SPD spokesman. So it should result in a lawsuit that will probably not be resolved before Thursday.
The public prosecutor's office also has concerns
The public prosecutor in Munich, which is responsible for the investigation, also offers resistance to a personal appearance. She leads next to the Corona pandemic evidently as a further argument the concern that the three Wirecard detainees might meet and make agreements. The MPs think so counter: "The German Bundestag should have the possibility to ensure that the three witnesses do not meet on November 19th."
The interest of the parliamentarians, however, there is no doubt, is justified. Because the insolvency of the Wirecard Group also raises critical questions for politicians on. On the one hand, there is supervision by subordinate authorities of the Federal Ministry of Finance and Economics.
Most of all, the opposition is interested in the role of SPD Vice Chancellor and Finance Minister Olaf Scholz.

Added to this are the secret service entanglements of the group and its board member Jan Marsalek, who may have worked for the Austrian secret service and engaged in dubious activities in Libya. In addition, the federal government and above all Chancellor Angela Merkel (CDU) campaigned for Wirecard. In autumn 2019, when accusations of financial manipulation at Wirecard were already loud, Merkel lobbied the Chinese during a visit to Beijing Government for the market entry of the financial service provider in China. This was what ex-Defense Minister Karl-Theodor zu Guttenberg had created.
Opposition politician schaeumen-Chancellor candidate Scholz is covered - BaFin is doing illegal business and is not called to approve - What is going on here?

All three Wirecard people invited want to make use of their right to refuse to testify in order not to incriminate themselves, they announced in writing. The FDP chairman Toncar is irritated by this announcement because one does not yet know the questions of the MPs. "For us in the committee it is primarily about the political Coming to terms with and not about the question of guilt in the criminal sense, as in court, "the liberal told SPIEGEL.
His left-wing colleague De Masi definitely wants to take Braun personally into the mangle and threatens: "By the way, witnesses can be cross-examined if they are contradict each other. "The Greens chairman Bayaz appeals to the public prosecutor's office and defense lawyers to give up their resistance. Of course, the security of the transport must be and be guaranteed on site. "But so far nobody has given me a convincing explanation why that shouldn't be possible," he said.

Auditors just want to collect

The federal government has received a lot of criticism for its regulatory plans. The auditing industry doubts whether the new rules can prevent a new Wirecard case

Duesseldorf On Monday in the Federal Ministry of Finance, the mail piling up on a hot topic. On this day the period ended in the Wirtschaftsprueferverbaende and Experts from science were able to comment on the planned new regulation of balance sheet auditing in Germany: With the so-called Finanzmarktintegritaetsstaerkungsgesetz (FISG), the federal government is reacting to the Wirecard fraud scandal.
The law project is not only a monster in terms of name. The auditors spent two and a half weeks poring over the draft bill. See in the end they have a few good approaches, such as stricter corporate governance in companies and the new role of the financial supervisory authority Bafin as accounting police. With a view However, large parts of the auditing industry are already going on the barricades for the planned interventions in their own work.
Klaus-Peter Naumann, spokesman for the board of the Institut der Wirtschaftspruefer (IDW), predicts no less than a "catastrophe", especially for the middle class and smaller audit firms. Ulrich Stoerk, Germany boss of the market leader PwC, sees the attractiveness of the examiner job in danger. And the Chamber of Auditors as a representative of the profession comes to the conclusion that the planned tightening will not prevent a "second Wirecard".
At first glance, the amendment to the law planned by the federal government looks as if the auditor industry came away with a "black eye" - at least measured against the demands in the room in the high phase of the excitement about the Wirecard scandal in the summer.
There was talk of a split up of the audit companies, of the new responsibility of the auditor as a fraud investigator or of a duty for them Clients to have to change their auditor every five years. There is nothing of this in the current FISG draft bill.

Grenke the new Wirecard

A new insider trade for ....?
The financial services provider Grenke is targeted by the notorious shortseller Fraser Perring. Many of his allegations are reminiscent of the Wirecard accounting scandal. But how similar are the cases really?
Price drop by more than 50 percent, 1.3 billion euros destroyed stock market value: September 14 and the following days were a caesur for Grenke. The reason for the Violent market reaction: The previously inconspicuous medium-sized business from Baden-Baden unexpectedly fell into the sights of the notorious US shortseller Viceroy. In his 64-page report as well as several shorter subsequent papers published the research house heavy accusations against Grenke: nepotism, balance sheet manipulation and aiding and abetting money laundering are the order of the day there.
Particularly spicy: Viceroy, who is behind the well-known investor Fraser Perring, previously worked for the furniture manufacturer Steinhoff and the payment service provider Wirecard Accusations of balance sheet manipulation hit the bull's eye. This track record makes his latest attack seem credible to many shareholders. Perring is also aware of this: in his analysis report he repeatedly makes comparisons with Wirecard, the biggest accounting scandal in German post-war history. Is Grenke really the new Wirecard, as some fear? Are the people of Baden at work with a similarly high level of criminal energy?
Grenke: Simple business, complex accounting At first glance, the two companies could hardly be more different. Until the scandal broke up, Wirecard was considered a German flagship tech company: an international payment service provider with an innovative business model, listed in the Dax. Grenke, on the other hand, is just the opposite: an inconspicuous financial service provider from Baden-Baden with a solid, but not exactly innovative business model, focus on leasing office hardware. The almost boring middle class with some One hundred million euros in interest income has been listed in the MDax since June 2019.
But both companies have one thing in common: Both are financial service providers and, at first glance, have a simple business model - Wirecard processed electronic payments, Grenke leased office equipment and bought accounts receivable, but accounting is complex and difficult to understand. That lets the accusations of the shortseller Viceroy fall on fertile ground.


In summary, one can only say that everything is being only talked about and drawn to length. Government agencies enrich themselves through illegal stock trading and that there will be laws against economic advisers there never will be, because the same Advisor companies work for the government, employees and ministers. Who likes to pillory themselves? They protect each other because they have to fill their own pockets even more.
Germany's upper class has the threads in hand and that includes the "Wirecards" of our time.


Can a candidate for Chancellor be so "inept" or has he knowingly violated his own orders?

More Isaan News - on BaFin and Olaf Scholz, Jan Marsalek and the "Criminal Club"
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The Bafin Zocker - Insider Trading - The Criminal Club continues and the Politics is in between
Jan send - From Russia with Love
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BaFin und der Wirecard Betrug
Olaf Scholz am 17.7.2020 mitten drin
Scholz Knew about the entire WireCard since February2019-but Jan Marsalek was the Darling of the Nation and everybody needed to protect his millions!
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