Wirecard Bank Heads Probed for Fund Laundering, Spiegel Says (1)

Munich prosecutors extended their investigation into bankrupt Wirecard AG, now also looking into allegations of money laundering by top managers of its bank unit, Der Spiegel reported without saying where it got the information.

Authorities raided Wirecard two weeks ago over allegations its bank unit created fake accounts to help customers commit fraud by falsely claiming government aid under the Corona pandemic relief programs, the magazine said. The accounts were used to hide the flow of money, according to the report.

Munich prosecutors and Wirecard’s insolvency administrator declined to comment on the report.

Wirecard’s collapse amid an accounting scandal ...