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 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)
Source: Read Full Article