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FirstFT: Wirecard’s former top accountant admits forging audit documents

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The former chief accountant of Wirecard has Admitted forgery of documents According to people familiar with the subject, KPMG requested during a special audit, ahead of an experiment to be held later this year.

Stefan von Arpa is one of the three defendants in the case filed by plaintiffs in Munich due to the spectacular fall last year of one of the most popular technology companies in Germany.

The 47-year-old is the first senior executive at Wirecard to admit wrongdoing since Oliver Blenhaus, head of a subsidiary in Dubai, turned himself in to authorities in July 2020 and became the chief witness of the lawsuit.

Wirecard crashed into insolvency in June 2020 after admitting that half of its declared revenue and € 1.9 billion of corporate cash allegedly held in trust accounts in Asia did not exist.

Von Erffa is one of three Wirecard executives accused of fraud, breach of trust and market manipulation, alongside Blanhaus and former CEO Marcus Brown, who denies any wrongdoing.

Von Arpa denied any involvement in the fraud and accused the second fugitive under the command of Wirecard Jan Marsalk during a parliamentary inquiry last year. However, a police investigation found evidence that von Erffa forged documents shared with the accountants at KPMG and EY.

Do you have feedback on the newsletter? Tell us in firstft@ft.com. Thank you for reading FirstFT Europe / Africa. Here’s the rest of today’s news – Jennifer

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  • opinion: A break in stress tests by European regulators feels strangely out of sync with a dark economic picture, Writes Patrick Jenkins.

2. Russia claims full control of Luhansk Moscow forces said yes Caught it all Of the Luhansk region in eastern Ukraine after conquering Lisichensk, Kyiv’s last stronghold. If approved, the loss to Ukraine after weeks of brutal fighting would give President Vladimir Putin a significant military achievement in the pursuit of control of the Donbass.

More about the war in Ukraine

3. Credit Suisse juggles a wealth of rich accounts in Asia The Swiss lender is Struggling to reduce accumulation Of hundreds of customers waiting up to eight months to open accounts in Asia, which has caused some to switch to rivals and hurt team morale at the heart of the bank’s efforts to revive its capital.

4. EBC warning on crypto regulation The European Central Bank will do this Warn the eurozone countries This week the dangers of national regulators precede the pending EU cryptocurrency laws, highlighting the difficulties of “harmonizing” the oversight of the “Wild West” sector.

5. Some killed in the shooting at the Copenhagen Mall gun Killed three people And wounded several others during a shooting at a mall in the Danish capital yesterday, according to police. Soren Thomsen, chief inspector, said it was too early to determine a possible motive.

Police arrest 22-year-old man in connection with shooting © Ritzau Scanpix / Olafur Steinar Gestsson / Reuters

The day ahead

Sir Wall Starmer’s five-point economic plan The Labor leader will signal in the speech that his party does Ready to fight Boris Johnson On his Brexit legacy in the next election and set out a plan to deal with the economic pain caused by Britain’s exit from the EU.

Turkey decides the fate of Russian vessels Kyiv envoy to Ankara said local authorities will decide how to deal with a cargo ship with the Russian flag Accused of carrying stolen grain From Ukraine, which was blocked from entering the port of Karso in Turkey.

Lawyers’ strike in Britain Lawyers in England and Wales Renew exit On government legal aid tariffs, and escalated action that began last week.

Economic Data Germany release May trade balance data while the EU publishes data on industrial producers’ prices. God Ukraine Recovery Conference Starting in Lugano, Switzerland.

American Independence Day U.S. markets are closed when the state holds a federal holiday to mark the anniversary of parting from Great Britain.

What else are we reading

Michael Lewis on Underdog and Strange Balls Talking to Henry Mans, one what The Greatest Chronicles of America’s Financial Crisis Direction for the former president – and the US response to Covid-19: “The thing that really works for Trump is: the system is fake.”

Immune imprinting provokes controversy over Covid-19 attacks Two years into the plague, people did it Acquired different types of immunity Depending on what varieties they encountered. This spectrum requires a broad response and poses a challenge to the next generation of vaccines.

A diagram illustrating how people develop different immune responses to Covid-19

NATO revival The return of the rhetoric of the Cold War at the NATO summit last week ensured the renewal of an anti-Moscow – and Beijing-based coalition of values. Will test Western determination When leaders face pressure at home.

Emerging markets are in better shape than you think When bad news is published about the world economy, from rising interest rates to commodity prices, experts say “emerging markets” are in the worst place. But a gloomy interpretation misses reforms in the biggest emerging economies since the latest outburst sent investors fleeing, Writes Rohir Sharma.

Pop-up leaders and a flexible team are ready for the next crisis The entire workforce has just passed a global stress test in double-digit inflation and economic recession. Now, senior executives are ready to face more upheavals than executives estimate, Writes Andrew Hill.

travel

When writer George Orwell moved to Jura Island in the 1940s, he found it untrained and “inseparable.” It is still soWrites Sophie Roberts.

Jura Island

Jura is 30 miles long, 7 miles wide, with a population of 200 then and today © Michael Turek

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