The Limited Times

Now you can see non-English news...

Greensill Bank: the next Wirecard case?

2021-03-05T08:25:40.623Z

Another banking affair is shaking the country, and the parallels to Wirecard are striking. There is also arguments behind the scenes on the Berlin stage.



Icon: enlarge

Greensill Bank in Bremen: Amazing parallel to the Wirecard scandal

Photo: FABIAN BIMMER / REUTERS

The drama about the Australian-British financial group Greensill and its German offshoot is like a raid for most observers.

Until a few days ago, the name was only known to absolute insiders, but now the next financial scandal is suddenly shaking the country after Wirecard.

The Greensill case made it into the »Tagesschau«.

On closer inspection, however, the surprise turns out to be much smaller.

Because that the name Greensill stands for anger has been known since 2018 at the latest.

Back then, crooked deals with Greensill had torn the Swiss asset manager GAM down;

At times the survival of the renowned Zurich address was at stake.

The GAM fund manager at the time, Tim Haywood, had invested several hundred million euros in client money in bonds issued by the British-Indian entrepreneur Sanjeev Gupta.

In other words, he financed Gupta's business.

It was said at the time that Greensill brokered this business.

Read more with Spiegel Plus

More perspectives, more understanding.

Your advantages with SPIEGEL +

  • Icon: Check

    SPIEGEL as a magazine

    as an e-paper in the app and on the web

  • Icon: Check

    All articles on SPIEGEL.de

    exclusive texts for SPIEGEL + readers

  • Icon: Check

    Try one month for free

    can be canceled online at any time

One month for € 0.00

Try it now for € 0.00Arrow to the right

Already have a digital subscription? Register here

Read more with Spiegel Plus

More perspectives, more understanding.

Your advantages with SPIEGEL +

  • Icon: Check

    SPIEGEL as a magazine

    as an app and e-paper

  • Icon: Check

    All articles on SPIEGEL.de

    exclusive texts for SPIEGEL + readers

  • Icon: Check

    Only € 19.99 per month

    can be canceled at any time

Buy Now Right Arrow

Already have a digital subscription? Register here

Restore iTunes subscription

SPIEGEL + is processed via your iTunes account and paid for with a purchase confirmation.

24 hours before it expires, the subscription is automatically renewed by one month at the current price of € 19.99.

You can cancel the subscription at any time in the settings of your iTunes account.

To use SPIEGEL + outside of this app, you must link the subscription to a SPIEGEL ID account immediately after purchasing.

With the purchase you accept our general terms and conditions and privacy policy.

Source: spiegel

All business articles on 2021-03-05

You may like

Business 2021-03-05T08:25:40.623Z
Business 2021-03-03T10:26:19.020Z

Trends 24h

Business 2021-04-13T15:50:27.709Z

Latest

© Communities 2019 - Privacy