Special audits at Grenke so far without “abnormalities”

Bitter

The British investor Fraser Perring accuses the leasing company of fraud, balance sheet falsification and money laundering.


(Photo: dpa)

Frankfurt Grenke defends himself against the fraud allegations of the British investor Fraser Perring. The leasing company from Baden-Baden commissioned the audit firms Warth & Klein Grant Thornton and KPMG with a special audit. According to the company, these have so far not shown any irregularities. At the current level, “no significant abnormalities” are recognizable in the business model and business organization, Grenke said on Tuesday.

The takeovers of the previously reviewed franchise companies could also be described as positive. However, the audits have not yet been completed and there have been no interim reports from the audit firms.

Grenke will only finally report on the tests once the results have been validated and proven, said board member Sebastian Hirsch. The group itself is examining various options for further developing the franchise model. The Bitter-Share turned positive and gained 9.2 percent.

Grenke earns his living mainly by lending IT and other technology products to small and medium-sized companies, as well as with related services.

Perring, one of the first critics of the payment processor that collapsed in a balance sheet fraud scandal in June Wirecard, Grenke had accused of fraud, balance sheet falsification and money laundering in a 64-page report in mid-September. For example, he claimed that a significant part of the liquid assets did not exist on the balance sheet. The short seller has bet on a decline in the price of the Grenke share with short sales.

More: HSBC analysis: Grenke convincingly rejects most of the allegations

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