Wirecard AG scandal

Wirecard, a German fintech company, collapsed in 2020 after it turned out that ~€1.9 billion in supposed assets did not exist.

Merkel’s government was criticised because she had previously lobbied for Wirecard during a visit to China in 2019.

While Merkel denied special treatment and claimed she did not push for special advantages for Wirecard, scrutiny remains about the oversight and the role of government.

Important nuance: this is not a scam by Merkel, but a major fraud which her government is partially held accountable for oversight-failings.