BaFin files Wirecard-related criminal complaint against employee By Reuters


© Reuters. FILE PHOTO: The logo of Germany’s Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside of an office building of the BaFin in Bonn


BERLIN (Reuters) – German financial watchdog BaFin said on Thursday it had filed a criminal complaint against one of its employees in relation to suspected insider trading in collapsed payments company Wirecard.

The suspect sold structured products based on Wirecard AG (OTC:) on June 17 last year, BaFin added, just a day before the company said its auditor EY was unable to confirm the existence of 1.9 billion euros ($2.3 billion) in cash balances on trust accounts.

Wirecard filed for insolvency on June 25.

BaFin said it immediately suspended the employee, whom it did not name, and opened disciplinary proceedings.

($1 = 0.8262 euros)

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