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German businessman in Wirecard probe dies in Philippines

Christian Fernsby |
A German businessman in the Philippines wanted for questioning over the Wirecard accounting scandal has died, the justice minister said Thursday.

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Topics: WIRECARD    PHILIPPINES   

Christopher Reinhard Bauer died from “natural causes” on July 27 at a hospital in the capital Manila and was later cremated, Menardo Guevarra told AFP.

“He was the same person summoned by the NBI (National Bureau of Investigation) in connection with the Wirecard fraud investigation,” he said, after the government obtained official documents that confirmed earlier reports of Bauer’s death.

German payments giant Wirecard filed for insolvency in June after admitting that the 1.9 billion euros missing from its accounts which it initially claimed to be deposited in two Philippine banks did not exist.

A Philippine probe showed the missing money had never entered the country’s financial system. The Philippine lenders dragged into the scandal also denied transacting with Wirecard. Bauer, his wife and their company were under investigation for potentially flouting the Philippines’ antimoney laundering law.


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