Top managers of the German Wirecard have given the green light to various questionable transactions. Business Times Financial Times reports on the basis of confidential documents. The Singaporean branch of the German fintech company is currently being examined by the local police.

Directors would have approved four transactions with a total value of 2 million euros, whereby the money was diverted from accounts in Germany to Asia. This would include Jan Marsalek, the operational director of Wirecard. The potential involvement of the board may undermine the confidence of German regulators, who have so far had a mild tone towards the company, the British newspaper said.

Earlier this year, Financial Times reported that Wirecard’s subsidiary companies in Asia were guilty of money laundering and forgery of documents.

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