German lawmakers are calling for a full inquiry into the scandal at former darling of the DAX, Wirecard. On Tuesday parliamentarians interrogated some of the government's most senior figures on how no one saw it coming.
The German parliament's finance committee has convened a special session to question two of Chancellor Angela Merkel's Cabinet ministers about their knowledge of Wirecard's multibillion-euro alleged fraud.
Two former Wirecard executives have been arrested, and the company's ex-CEO has been taken back into custody. The German chancellery confirmed Angela Merkel's office had repeated contact with the now-insolvent tech firm.
As Germany deals with the collapse of Wirecard, an online payment giant accused of fraud, a key executive said he would help investigators. The scandal put Finance Minister Olaf Scholz in his rivals' crosshairs.
Germany's finance minister wants to beef up the nation's financial regulator in the wake of the Wirecard scandal. The finance watchdog admitted its ineffectiveness in preventing the auditing disaster.
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