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Wirecard: It will soon come to an end but ...
Sale of the Wirecard Bank and other core areas ... But before that there is still a lot to be regulated - from fraud to corruption

Most importantly, what roles have the Federal Government, Olaf Scholz, Peter Altmeier and even Chancellor Angela Merkel played?

Friday, 06. November 2020 -... ISAAN News and ISAAN LIVE - independent and none political News from the world of politics, financial and sports

Isaan News experts report ...

The fact that the sale of the Wirecard-Bank and other core areas of the insolvent payment processor is about to be completed was stated in the in the last few weeks and months again and again. But this time it could actually be so far. There are only two bidders left in the race anyway.
Experts have a bad guess who is behind the last two bidders? Jan Marsalek? Russia? One thing is for sure, Marsalek is not so easy to remove from his "baby"!

As the industry portal reported, citing "good sources", negotiations on the sale of Wirecard's core business are now due actually be on the home stretch. Even more: In the final talks, "a surcharge for the Spanish Santander is more and more likely".
According to the sources, this is mainly due to the dubious reputation of the only remaining competitor, the British telecommunications company Lycamobile. "BaFin is having a hard time to entrust the opposing candidate with the full banking license for sale with Wirecard Bank, "writes According to earlier media reports, it is Lycamobile (Isaan News has reported who is behind it!)
have been targeted by investigators in the past - among other things because of money laundering allegations.

Poker too much?

The sale of the Wirecard Bank and the affiliated parts of the company would be a further milestone in the break-up of the scandalous group - ultimately These assets are considered to be the heart of the insolvent payment processor. According to previous reports, insolvency administrator Michael Jaffe wants at least the sale 100 million euros redeemed. How much of that goes into the bankruptcy administrator's pocket?
Whether this will ultimately succeed is in the stars. Of the "more than 100 interested parties" at the beginning, only two are left, and yet it is dragging on Sales process for months. During this time, employees and customers willing to change should have searched for the long haul in terms of the value of the parts of the company possibly has pressed.

In principle, the pursuit of the highest possible sales revenue is understandable, after all, billions are at stake for the believers. The shareholders You shouldn't see anything of this anyway, which is why the Wirecard share hardly reacted to the announcement of the imminent sale. Long-term oriented investors keep your hands off the penny stick.

Political protection for the scandal company?

The financial supervisory authority BaFin has not exactly covered itself with fame in the fraud scandal at Wirecard. There is now a complaint from the European securities regulator ESMA. The lawyers of the cheated shareholders meanwhile sense a new opportunity.
In the Wirecard scandal, according to the European financial regulator ESMA, there were a number of deficits and failures in German financial supervision. In the course of an investigation, "a number of shortcomings, inefficiencies and legal and procedural obstacles" were identified, announced the authority on Tuesday. According to ESMA boss Steven Maijoor, the report shows weaknesses in the monitoring and enforcement of financial reporting from Wirecard.
ESMA also criticizes the closeness of the German financial regulator BaFin to politics. From the frequency and level of detail of the BaFin reports to the The Federal Ministry of Finance derives an "increased risk of influence" from the Ministry. Also the committee of inquiry set up to investigate in the Bundestag the question is whether and to what extent Finance Minister Olaf Scholz (SPD) was inaugurated.
The classification of the ESMA report in this country depends heavily on the party affiliation of the MPs. Florian Toncar from the FDP interpreted for example it clearly as a criticism of Federal Finance Minister Scholz. In addition, the suspicion "that Wirecard enjoyed political protection" increased.
Suspicion? Who should believe that, Olaf Scholz, the candidate with the Swiss cheese brain? Other politicians who also have holes in their memories? Poor Germany has a forgetful government!

EY, BaFin, Federal Ministry of Finance, Federal Ministers and banks in their sights

In addition to the committee of inquiry, the ESMA report should also be of importance for any claims for damages in the Wirecard case. Because shareholder protection and lawyers of the damaged investors want to hold the BaFin or the legislature responsible in addition to the long-standing auditor EY, if they have not adequately fulfilled their supervisory duties. At Wirecard itself, however, there is not much to be gained after the bankruptcy.

The political and legal tug-of-war over responsibilities in the case no longer has any effect on the price of Wirecard shares. But it is at the current level anyway worth a look at most for gamers. Don't miss the Isaan News page Isaan News to visit, with lots of insider knowledge that only Isaan News reporters have.

Conclusion ...

There is still a lot of work to do before the last bell rings, but one thing is already certain: the many small investors are the losers, the big ones are the winners , thanks to the powerful reduction of a financial system whose laws date back to the corrupt time of the emperor. Poor Germany. Oh yes, Swiss cheese is very popular in Germany, has one standardized number of holes!

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