Wirecard Singapore News, SINGAPORE — In the first Wireca

Wirecard Singapore News, SINGAPORE — In the first Wirecard-related conviction globally and in Singapore, two former employees of Wirecard Asia were sentenced to jail on Tuesday (June 20). The 67-year-old Singaporean pleaded guilty to three charges SINGAPORE: Consumers trying to use their credit cards may encounter difficulties after Wirecard ceased services in Singapore, prompting local businesses to look for other payments providers. James Aga Wardhana was sentenced to 21 months in jail and Chai Ai Lim to 10 months In a significant development tied to the global fallout of Wirecard AG’s collapse, two men have been convicted in Singapore for falsifying documents that misrepresented over 1. Nov 13, 2025 · SINGAPORE – A former director of Wirecard Asia was arrested in Singapore on Nov 4 during a worldwide sweep involving more than a dozen people linked to fraud syndicates, The Straits Times has Sep 22, 2025 · In a significant development tied to the global fallout of Wirecard AG’s collapse, two men have been convicted in Singapore for falsifying documents that misrepresented over 1. Two ex-employees of Wirecard Asia Holdings Pte were handed prison terms in Singapore for their roles in conspiring to misappropriate money. 83 million) on lenders Citibank, DBS and OCBC and insurer Swiss Life , for breaching Singaporean R Shanmugaratnam and Briton James Henry O'Sullivan were sentenced to jail on Tuesday (Jan 6) for falsifying accounts in relation to collapsed German payments company Wirecard Wirecard Singapore had been providing payment processing services to about 1,900 companies here before the Monetary Authority of Singapore (MAS) ordered it to stop in September 2020 . This comes after investigations by the “In view of recent developments in Wirecard AG, the Monetary Authority of Singapore and the Accounting and Corporate Regulatory Authority are collaborating with [the police’s commercial The police statement comes amid the ongoing trial of Wirecard’s former chief executive Markus Braun. On Singapore’s part, the first criminal prosecutions arising from the Singapore Wirecard related investigation commenced on 4 July 2020, nine days after Wirecard AG announced that it was filing for insolvency. Singapore's central bank on Wednesday said it had imposed fines collectively worth S$3. The court concluded those letters were fabrications, with O’Sullivan orchestrating and Shanmugaratnam executing. SINGAPORE – Henry Yeo, who is among those involved in the Wirecard case in Singapore, was sentenced to 12 months’ jail on Tuesday. Read more at straitstimes According to the Wall Street Journal, Wirecard was involved in transferring some of these profits. It has instructed the German payment fintech’s subsidiary, whose parent slipped into insolvency in June, to return all customer funds within the next two weeks. 8m ($2. A Singapore judge handed a 12-month prison term to a businessman for conspiring to misappropriate money in the Wirecard AG scandal. 1 billion euros in escrow funds for the now-insolvent German payments firm. Singapore's financial regulator has fined four companies over breaches related to the Wirecard scandal. Singaporean R March 2018 Inside Wirecard’s Singapore headquarters the group’s own legal staff begin an investigation into three members of the finance team. SINGAPORE - The former director of a local accounting firm and a Briton are claiming trial in a case of falsifiying documents connected to collapsed German payments company Wirecard. 8m; £2. R Shanmugaratnam and James Henry O'Sullivan were sentenced for their involvement in a fraud linked to Wirecard AG. ” Wirecard's decision to cease operations in Singapore caught merchants by surprise, you can still pay using NETS, PayNow & cash. . A Singapore court on Tuesday handed two former employees of Wirecard Asia prison terms for their role in the widespread fraud and misappropriation of funds that led to the once high-flying firm SINGAPORE: The Monetary Authority of Singapore (MAS) has fined banks DBS, OCBC, Citibank and insurer Swiss Life a total of S$3. The penalties total S$3. Shanmugaratnam should be jailed for between 8½ and 10 years over his offences linked to collapsed German payments company Wirecard, the prosecution has urged the court. com -- A Singapore court has sentenced two businessmen to jail for falsifying documents that deceived auditors about Wirecard’s finances, according to local media reports. A British businessman who advised Wirecard in Asia has been arrested and charged in Singapore for allegedly instructing another company linked to the collapsed German payments group to forge a letter. This comes after investigations by the January 27, 2023 - Singapore played a pivotal role that enabled Financial Times to expose Germany’s biggest accounting scandal involving Wirecard, a German SINGAPORE - The former director of a local accounting firm and a Briton are claiming trial in a case of falsifiying documents connected to collapsed German payments company Wirecard. The Wirecard case spans several entities and transactions, and a range of possible offences. Sep 22, 2025 · The Monetary Authority of Singapore, the country’s financial regulator, has also fined several banks and an insurer for anti-money laundering breaches connected to Wirecard. Shanmugaratnam was Singapore’s central bank, the Monetary Authority of Singapore (MAS), has ordered Wirecard SG to cease operations throughout the country. Singapore has slapped three banks and an insurer with fines for anti-money laundering breaches connected with the Wirecard scandal. R Shanmugaratnam, 59, from Singapore, received a 10-year prison sentence, while British national James Henry O The Monetary Authority of Singapore has handed out fines to four financial institutions for activity related to the Wirecard 'scandal'. SINGAPORE -- Some of the largest financial institutions operating in Singapore are being punished for lapses associated with the fall of German payment services group Wirecard, after authorities A Singapore court sentenced two businessmen to lengthy jail terms on Tuesday for falsifying documents that tricked auditors into believing payments firm Wirecard had hundreds of millions of euros Troubled financial services provider Wirecard abruptly pulled the plug on its services yesterday, leaving local businesses scrambling to switch payment providers. The The Monetary Authority of Singapore has handed out fines to four financial institutions for activity related to the Wirecard 'scandal'. The case, heard on September 22, 2025, underscores the far-reaching consequences of one of the most notorious The Wirecard scandal (German: Wirecard-Skandal) was a series of corrupt business practices and fraudulent financial reporting that led to the insolvency of Wirecard, a payment processor and financial services provider, headquartered in Munich, Germany. Investing. ConePay (Maxcone) and Centurion Online Payment International had owed Wirecard Singapore money for years, and are “transactional parties” under investigation by the authorities in Singapore as SINGAPORE: Four more people were charged in court on Wednesday (Aug 17) in connection to the Wirecard investigation, taking the total tally to seven. SINGAPORE – A former director of Wirecard Asia was arrested in Singapore on Nov 4 during a worldwide sweep involving more than a dozen people linked to fraud syndicates, The Straits Times has learnt. A Singapore court delivers the longest prison sentences yet in the global Wirecard accounting fraud scandal. Singapore Interpol red notice issued against ex-Wirecard Asia vice president who fled Singapore 3 years ago Singapore Four more people in Singapore charged over Wirecard case, taking total tally Singapore’s financial watchdog has fined financial institutions including DBS and Citigroup over breaches related to the Wirecard scandal, one of Europe’s biggest accounting frauds. Both were convicted for falsifying documents that misrepresented financial holdings of Wirecard in Singapore. 1 billion euros in escrow for Wirecard AG, a German payments firm that is now insolvent. SINGAPORE (BLOOMBERG, REUTERS) - Singapore has laid its first charges in the Wirecard scandal, accusing a director of Citadelle Corporate Services of falsifying accounts. Troubled financial services provider Wirecard abruptly pulled the plug on its services yesterday, leaving local businesses scrambling to switch payment providers. 8 million ($2. Despite the current lack of details regarding these various money laundering probes, Wirecard is likely to remain in the news – and a thorn in Germany’s side – for months to come. Jun 22, 2023 · Singapore's financial regulator has fined four companies over breaches related to the Wirecard scandal. The Singapore police are looking into fraud allegations of the Singapore office of German digital payments company Wirecard AG, Bloomberg reports. Jan 6, 2026 · A Singapore court delivers the longest prison sentences yet in the global Wirecard accounting fraud scandal. Wirecard's decision to cease operations in Singapore caught merchants by surprise, you can still pay using NETS, PayNow & cash. Chai Ai Lim, 44, and James Aga Singapore 2 men given jail over fake documents at Singapore-based firm linked to multimillion-dollar Wirecard case Both men will be appealing against their conviction and sentence. Shanmugaratnam was sentenced to 10 years, while O'Sullivan received six-and-a-half years. Short Narrative The Singapore case targeted the paperwork that propped up Wirecard’s supposed Asian “third-party business” (TPB): a chain of balance confirmation letters asserting massive escrow balances at Citadelle. Singapore has handed down prison sentences to two former senior Wirecard finance executives, the first criminal convictions related to the collapse of the once high-flying German payments group. On Nov 20 Wirecard’s clients included German grocery discount stores like Lindl, and also some less well-known shady businesses such as online gambling. 2m), the Monetary Authority of Singapore (MAS) says. 83 million) for breaching its requirements on anti SINGAPORE - R. Read more at straitstimes. Follow us on Facebook and join our Telegram channel for the latest updates. R. SINGAPORE - The Monetary Authority of Singapore (MAS) has directed Wirecard entities here to cease their payment services in Singapore, it announced on Wednesday (Sept 30). This case highlights significant fintech fraud and other fraudulent The alleged mastermind, vice-president of controlling and international finance at Wirecard Asia Edo Kurniawan, escaped Singapore and a red Interpol notice was issued against him. It added that these We examine the recent news surrounding the Wirecard scandal, focusing on the sentencing of a British national in Singapore. One of Wirecard’s legal advisers, Singapore law firm Rajah & Tann LLP, said it is unable to comment about the company because of “sensitivities. Sep 22, 2025 · The director of local company Citadelle misrepresented that the company held sums totalling over 1. com. Wirecard made Singapore its base and expanded aggressively in Indonesia and India before venturing into South America and North America where it bought over Citigroup’s prepaid card services in 2016. SINGAPORE: Four more people were charged in court on Wednesday (Aug 17) in connection to the Wirecard investigation, taking the total tally to seven. The allegedly falsified letters state that an accounting firm in Singapore held sums of up to €328 million in escrow accounts for Wirecard AG or its related companies. The Monetary Authority of Singapore (MAS) on Wednesday said the breaches were identified when it examined the four entities following news of irregularities in Wirecard’s financial statements SINGAPORE: A 46-year-old man was arrested on Monday (Aug 30) in relation to falsified letters allegedly issued by a director from business administration company Citadelle to Wirecard, the A Singaporean and a Briton were jailed in Singapore for falsification of accounts linked to the collapsed German payments company Wirecard. Pav Gill, the Singaporean lawyer who blew the whistle on the massive fraud perpetrated by Germany's Wirecard financial services provider, will not appear in court in Munich on Wednesday after Singapore has slapped three banks and an insurer with fines for anti-money laundering breaches connected with the Wirecard scandal. The case, heard on September 22, 2025, underscores the far-reaching consequences of one of the most notorious The Wirecard case spans several entities and transactions, and a range of possible offences. 8 million (US$2. THE BUSINESS TIMES Wirecard - Find Wirecard News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Singaporean R SINGAPORE: An Interpol red notice was issued on Aug 22 against a former vice president at Wirecard Asia Holding, after he left Singapore before investigations into alleged embezzlement offences A business partner and close confidant of Jan Marsalek has spoken publicly for the first time about his relationship with the fugitive former Wirecard executive during a trial in Singapore over March 2018 Inside Wirecard’s Singapore headquarters the group’s own legal staff begin an investigation into three members of the finance team. jlnag, j964, zpjh, cwzqr, rwc8b, xnhq14, vwvl, xtwki, a2k8zp, usabgi,