Frankfurt prosecutor looking into BaFin handling of Wirecard

Prosecutors and federal police visited BaFin's headquarters


FRANKFURT- Frankfurt prosecutors are looking into the handling of Wirecard by Germany's financial watchdog BaFin, a spokesman for the prosecutor's office said on Wednesday.

Prosecutors and federal police visited BaFin's headquarters on Wednesday to hand over a letter requesting information, the spokesman said.

"We have received several letters from concerned citizens asking for charges against unnamed people from the BaFin," he said.

The charges revolve around a lack of oversight and the alleged use of insider information for trading in Wirecard securities, he said.

BaFin has come under intense criticism for failing to spot wrongdoing ahead of the collapse of the payments company, and its chief is stepping down.*:nL8N2K46DX

BaFin declined to comment.

(Reporting by Tom Sims and Patricia Uhlig; Editing by Maria Sheahan) ((; +49 30 220 133 645;))

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