Former Wirecard executive Christopher Bauer, one of several people being investigated over a multi-billion dollar fraud at the German payments firm, died in The Philippines last month, the Justice ministry confirmed on Thursday.
Commerzbank expects a writedown on loans to collapsed payments firm Wirecard and fallout from the coronavirus crisis to result in a loss for the year, compounding the challenges already facing Germany's second-largest bank. Francis Maguire reports.
Prosecutors are investigating one of the largest accounting fraud cases in the country's recent history after the online payment services company crumbled into insolvency last month, admitting that $2.2bn was missing.
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