A Trader Goes Short on Wirecard, Then Files a Criminal Complaint

A trader changed his position on Wirecard AG from long to short. Then he asked prosecutors and regulators to investigate the German fintech company.

The former investment bank employee, who can only be identified as Armin S., filed a criminal complaint with police and market regulator Bafin seeking an investigation into whether Wirecard violated EU market manipulation rules.

The request came just after an independent audit into Wirecard by KPMG criticized the payment processor for internal “shortcomings” and unwillingness by its third-party partners to contribute to the report.

Wirecard hired KPMG in October to look into its third-party partner business ...