Ex-Wirecard boss Braun: Bafin employees wanted to benefit from exchange rate fluctuations
Peter Kneffel / DPA
Employees of the state financial supervisory authority Bafin apparently traded with high-risk certificates from the former Dax group shortly before the Wirecard bankruptcy.
This is reported by the business magazine Capital, citing a list by the Federal Ministry of Finance.
Accordingly, in the first half of 2020 alone, Bafin employees privately subscribed to a total of 27 different financial products based on the price of Wirecard shares - including warrants, bonus certificates and various leverage products, but also so-called contracts for difference, which are considered highly speculative and not about the Exchange to be sold.
For at least two of the traded financial instruments, Bafin employees have bet on a falling Wirecard share price.
The list of the Ministry of Finance also shows that trading in derivatives has also increased significantly this year - apparently in order to benefit from the sharp fluctuations in the Wirecard exchange rate.
In 2019, Bafin employees did business with 13 different equity derivatives related to Wirecard, this year the 27 certificates also included contracts for difference.
In how many cases and at what times the respective financial products were bought or sold remains open in the list.
Because of its role in the accounting scandal at the former Dax group, the financial regulator has been criticized for weeks.
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