Featured Germany

EU watchdog urges tighter rules to prevent another Wirecard scandal

European Union rules on company financial information need to be updated to apply the lessons of the collapse of German payments firm Wirecard, the bloc’s securities watchdog said on Wednesday. The European Securities and Markets Authority (ESMA) said in a report in November there were deficiencies in how Germany’s securities… Read More

German Financial Regulator Refers Greensill Matters to Criminal Prosecutors

Embattled financial startup Greensill Capital plans to file for insolvency in the U.K. this week, as it simultaneously moves toward a deal to sell its operating business to Apollo Global Management, according to people familiar with the matter. Also Wednesday, in a dramatic ratcheting up of Greensill’s problems, Germany’s… Read More

Germany Arrests Ten in Mega Operation Against Neo-Nazi Criminal Network Accused of Money Laundering

By Julett Pineda Sleinan, OCCRP, 2 March 2021 OCCRP — German police arrested eight people aged between 24 and 55 and searched dozens of premises throughout the country as part of a mega operation that targeted right-wing groups allegedly involved in drug and arms trafficking and money… Read More
2nd March 2021
A series of controversial deals that took place before Wirecard AG purchased an Indian business appeared to be an “evolving international fraud,” a panel of London judges said. The transactions in 2015 are being scrutinized in courts in London and Chennai, with the former minority holders of Hermes I-Tickets Private… Read More
2nd March 2021
Iran rejected a European Union offer to hold direct nuclear talks with the U.S. in the coming days, risking renewed tension between Tehran and Western capitals. Senior Western diplomats said Iran’s response doesn’t quash the Biden administration’s hopes of reviving diplomatic efforts to restore the 2015 nuclear deal, struck between… Read More
1st March 2021
EU countries reached a preliminary agreement to sanction four Russian government officials over the jailing of opposition leader Alexei Navalny, according to four diplomats. The deal was reached Friday in a technical working group of the Council of the EU, called Relex, which deals with the legal complexity of sanctions. Read More
1st March 2021
The world governing body for football, FIFA, says it has run out of time to prosecute Franz Beckenbauer and two others for allegedly paying bribes in the build up to the 2006 World Cup.  FIFA’s adjudicatory chamber, which judges ethical breaches, ruled on Friday that too much time had… Read More
24th February 2021
A subsidiary of Germany’s Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government. The U.S. has been threatening sanctions against European companies that support construction of the $11 billion gas pipeline, and Zurich Insurance Group… Read More
18th February 2021
Germany’s financial watchdog BaFin has ordered the Frankfurt branch of Greek lender Piraeus Bank to take measures to prevent money laundering and terror financing. BaFin disclosed the order on Wednesday, which was made on Jan. 13. The statement offered no further detail. Piraeus Bank is one of Greece’s four largest… Read More
18th February 2021
The Biden administration is reviewing U.S. policy toward a pipeline designed to carry Russian natural gas to Germany beneath the Baltic Sea, under new pressure after construction on the $11 billion project resumed this month, according to people with knowledge of the deliberations. The undersea pipeline, Nord Stream 2, is… Read More
15th February 2021
AP – Russia is prepared for a split with the European Union if the EU imposes new crippling sanctions amid a dispute over the treatment of opposition leader Alexei Navalny, the nation’s top diplomat warned Friday. In response to a question about Moscow’s willingness to rupture… Read More
11th February 2021
By Olesya Shmagun, OCCRP, 10 February 2021 OCCRP — A 33-year-old Russian man who runs no known profitable businesses secretly owns European real estate and other assets worth at least 50 million euros, corporate records from Luxembourg show. Sergey Toni’s properties, which he holds through seven… Read More
10th February 2021
Interpol issued a “red notice” alert on Tuesday to locate Paul Robert Mora, a former trader with Munich-based bank HBV who is wanted by German prosecutors in a tax fraud case. Mora’s case is part of an investigation into the so-called cum-ex… Read More