The criminal convictions are the first related to the massive fraud at the payments firm. In April, EY’s German business was banned for two years from accepting major new audit mandates after it failed to uncover fraud at Wirecard AG.
Wirecard AG filed for bankruptcy in 2020 after acknowledging that 1.9 billion euros ($2.79 billion) it had listed as assets probably didn’t exist. The German firm’s units that operated in Singapore had been asked to cease their payment activities in 2020.
