About: http://data.cimple.eu/news-article/19ac1fe305737786cda2671ba21475755cb1e6d2507eea5177b610db

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/19ac1fe305737786cda2671ba21475755cb1e6d2507eea5177b610db Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	German financial regulator Bafin said Wednesday it was launching a probe into market manipulation at leasing firm Grenke after a short-seller who sounded the alarm about disgraced group Wirecard alleged fraud at the company. "We will use all legally available instruments to clarify possible accounting violations and other allegations as quickly as possible," a Bafin spokeswoman told AFP. With Germany still reeling from the spectacular collapse of fintech darling Wirecard, Viceroy Research's Fraser Perring published a report claiming accounting fraud at Grenke, which provides financing for leasing to small and medium-sized companies. Baden-Baden based Grenke said it "strongly rejects" Viceroy's 64-page report. "A central accusation is that a substantial portion of the 1.078 billion euros ($1.275 billion) in cash and cash equivalents reported in the 2020 half-year financial report does not exist. This is demonstrably false," Grenke said. The company, which employs more than 1,700 staff and operates in 33 countries, said it was preparing a detailed reply to the accusations, adding it reserved the right to take legal action. Amid the row, Grenke's stocks plunged more than 40 percent on the MDax on Wednesday, losing more than half its value since the start of this week. Bafin's spokeswoman said its investigations included "possible market manipulation by Grenke AG for instance through incorrect information on accounting issues". At the same time, the regulator will also probe if there had been insider trading or possible manipulation by third parties, including through a short-selling attack. Digital payments provider Wirecard fell into insolvency in June after the company was forced to admit a 1.9-billion-euro ($2.3 billion) hole in its balance sheet. The scandal has been dubbed "unparalleled" in Germany by the country's finance minister Olaf Scholz. edf/hmn/cdw
schema:headline	German regulator probes leasing firm Grenke over fraud claims
schema:mentions	Insider trading Malcolm Fraser Accounting Agence France-Presse Olaf Scholz Germany Viceroy Baden-Baden MDAX Federal Financial Supervisory Authority Accounting scandals Short (finance) Market manipulation European Development Fund Insolvency Balance sheet Wirecard Financial technology CDW
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-16 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	76 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software