The defiant rulers of Wirecard

Wulf Matthias, who has been a confidante of CEO Markus Braun on the Supervisory Board for many years, is still overseeing the Wirecard Bank.
Image: Wirecard

At Wirecard, by no means everyone was hunted from the court who had something to do with the billion-dollar fraud. On the contrary: the old guard is still in office and honor on the Wirecard Bank Supervisory Board. Now the financial regulator could step in.

AEverything has to go. Everything is now on the table at Wirecard. And what insolvency administrator Michael Jaffé pulls out is not nice at all. High debts, hardly any usable. The only part of value is apparently the Wirecard Bank, an independent institute with a banking license, a 100 percent subsidiary of the insolvent parent company. Naturally, the ties are close, both in terms of content and personnel.

Bettina Weiguny

Freelance writer in the economy of the Frankfurter Allgemeine Sonntagszeitung.

It is all the stranger that managers with a burden can still hold their own here while the Wirecard board of directors received their papers in the middle of last week, the only thing that has the say now is the insolvency administrator Jaffé. In the bank, on the other hand, the supervisory board is governed by the old staff who have been involved in building up the Wirecard lie for years, acted stupidly or – in the best case – were overwhelmed.


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