Wirecard law firm probe finds no material wrongdoing, shares soar


FRANKFURT, March 26 (Reuters) - Local staff at the Singapore office of Wirecard may have committed crimes but these were not material, an investigation into suspected wrongdoing at the German payments company by an outside law firm has concluded.

"The independent review had no findings of roundtripping or corruption," Wirecard said on Tuesday, releasing a summary of law firm Rajah & Tann's investigation, which follows a series of investigative reports in the Financial Times.

"The review also did not reveal findings of criminality in respect of the headquarters of Wirecard," it added in a statement. "Criminal liability may, however, be attributable to individual local employees in Singapore according to local law."

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