The German parliament is set to hold a full inquiry into the collapse of Wirecard, forcing the government to address questions over its failure to avert one of the biggest corporate frauds in the country’s post-war history.
Wirecard collapsed into insolvency in the month of June after admitting that about €1.9bn in money was lacking from its accounts.
Since then, there have been growing questions over the failure of German authorities to prevent the biggest corporate fraud despite special sessions of the finance committee.
According to political analysts, the decision of the investigation will increase pressure on German chancellor Angela Merkel and her deputy Olaf Scholz ahead of national elections next year.
