Prosecutors in Milan are probing allegations of false accounting in relation to the crisis of Italian life insurer Eurovita, a person with knowledge of the matter said on Friday. Owned by Cinven, Eurovita this year became the first Italian insurer …
Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany’s biggest post-war fraud scandal and sent shockwaves through the country’s political and financial establishment. Austrian former chief executive Markus Braun …
Investors who lost money from investing in Wirecard AG shares can’t make Germany’s financial regulator Bafin compensate them, a Frankfurt court ruled. The tribunal on Wednesday threw out four suits by shareholders who claimed they lost between 3,000 euros ($3,404) …
Accountancy firm Grant Thornton has been fined for its audit of Patisserie Valerie, the British cafe chain that collapsed in 2018, throwing 900 people out of a job and triggering a separate fraud investigation into accounting irregularities. The Financial Reporting …
The Kraft Heinz Company and two former executives have agreed to pay more than $62 million to settle charges they falsified supplier contracts to achieve cost savings in a multi-year accounting scheme, the U.S. securities regulator said on Friday. The …
LONDON – Britain’s accounting regulator said on Monday it has opened investigations into the audits of Greensill Capital and Wyelands Bank as regulatory scrutiny of the companies intensifies. Wyelands Bank is owned by steel tycoon Sanjeev Gupta’s metals-to-finance empire GFG …
BERLIN – German lawmakers presenting a report Tuesday into the collapse of the payment processing company Wirecard accused the country’s finance minister and auditors Ernst & Young of numerous oversight failings. Wirecard filed for protection from creditors through insolvency proceedings …
Markus Braun, the former chief executive officer of scandal-ridden Wirecard AG who has been in jail for almost a year, sued insurance giant Chubb Ltd. to make it pick up his legal bills, people familiar with the case said. Braun, …
An ex-Deloitte LLP partner is facing disciplinary action in the Netherlands for an improper audit of Steinhoff International Holdings NV prior to the South African retailer’s near collapse more than three years ago. The Dutch Authority for the Financial Markets …
SHANGHAI – China launched the country’s first class-action lawsuit against a listed company on Friday, targeting Kangmei Pharmaceutical Co, as regulators vowed “zero tolerance” against accounting fraud and other capital markets “tumors.” The China Securities Investor Service Centre (CSISC), a …
