A company director has been charged in Singapore with falsifying letters linked to scandal-hit German payments giant Wirecard, according to court documents, as the fallout from the firm's collapse spreads further around the world.

The fintech company filed for insolvency in June after admitting that 1.9 billion euros ($2.2 billion) missing from its accounts did not exist, revelations that stunned Germany and drew comparisons with the Enron accounting scandal.

R. Shanmugaratnam, director of a business administration firm in Singapore at the centre of investigations into the case, has been charged with falsifying letters showing it held money in escrow for Wirecard.

<a href="https://www.wionews.com/world/wirecard-scandal-brings-overhaul-of-eu-fintech-rules-into-sharper-focus-315716">Also read|&nbsp;Wirecard scandal brings overhaul of EU fintech rules into sharper focus</a>

The 54-year-old of Citadelle Corporate Services claimed in the letters in 2016 and 2017 the firm held amounts ranging from 30 million euros to around 177 million euros in accounts on behalf of Wirecard, according to court documents seen by AFP Friday.

But the accounts did not hold such amounts and the letters were produced with the "intent to defraud", according to the charges, filed last month.

Shanmugaratnam could not immediately be reached for comment.

<a href="https://www.wionews.com/world/germany-vows-to-beef-up-finance-watchdog-after-wirecard-drama-310919">Also read|&nbsp;Germany vows to beef up finance watchdog after Wirecard drama</a>

Authorities in the city state last month launched an investigation into Citadelle and another company over suspicions they falsified accounts, and Shanmugaratnam is the first person to face charges.

Wirecard's woes began in January 2019 with a series of Financial Times articles alleging accounting irregularities in its Asian division, headed by chief operating officer Jan Marsalek.

German and Philippine authorities want to question Marsalek as part of separate investigations into Wirecard, but his whereabouts are unclear.

Last month, the Philippines justice minister said immigration officers falsified records to show he briefly visited the country after being sacked.

Entries in the Bureau of Immigration database show Marsalek arrived in the Philippines on June 23 -- the day after he was fired -- and left for China on June 24.

But CCTV footage, airline manifests and other records prove Marsalek was not in the country on those dates, minister Menardo Guevarra said in a statement.

The firm's troubles exploded in June when long-time auditors Ernst &amp; Young said they were unable to find the 1.9 billion euros, and that they had been fed false statements.

A company director has been charged in Singapore with falsifying letters linked to scandal-hit German payments giant Wirecard, according to court documents, as the fallout from the firm's collapse spreads further around the world.

A company director has been charged in Singapore with falsifying letters linked to scandal-hit German payments giant Wirecard, according to court documents, as the fallout from the firm's collapse spreads further around the world. The fintech company filed for insolvency in June after admitting that 1.9 billion euros ($2.2 billion) missing from its accounts did not exist, revelations that stunned Germany and drew comparisons with the Enron accounting scandal. R. Shanmugaratnam, director of a business administration firm in Singapore at the centre of investigations into the case, has been charged with falsifying letters showing it held money in escrow for Wirecard. Also read| Wirecard scandal brings overhaul of EU fintech rules into sharper focus The 54-year-old of Citadelle Corporate Services claimed in the letters in 2016 and 2017 the firm held amounts ranging from 30 million euros to around 177 million euros in accounts on behalf of Wirecard, according to court documents seen by AFP Friday. But the accounts did not hold such amounts and the letters were produced with the "intent to defraud", according to the charges, filed last month. Shanmugaratnam could not immediately be reached for comment. Also read| Germany vows to beef up finance watchdog after Wirecard drama Authorities in the city state last month launched an investigation into Citadelle and another company over suspicions they falsified accounts, and Shanmugaratnam is the first person to face charges. Wirecard's woes began in January 2019 with a series of Financial Times articles alleging accounting irregularities in its Asian division, headed by chief operating officer Jan Marsalek. German and Philippine authorities want to question Marsalek as part of separate investigations into Wirecard, but his whereabouts are unclear. Last month, the Philippines justice minister said immigration officers falsified records to show he briefly visited the country after being sacked. Entries in the Bureau of Immigration database show Marsalek arrived in the Philippines on June 23 -- the day after he was fired -- and left for China on June 24. But CCTV footage, airline manifests and other records prove Marsalek was not in the country on those dates, minister Menardo Guevarra said in a statement. The firm's troubles exploded in June when long-time auditors Ernst & Young said they were unable to find the 1.9 billion euros, and that they had been fed false statements.

Singapore company director charged over Wirecard scandal

German payment group Wirecard recently announced that&nbsp;1.9 billion Euros ($2.13 billion) earlier counted in foreign accounts "was never there". While this information came as a big shock, the latest developments in the case are even more shocking.

It has now been announced on Saturday by&nbsp;Philippines Justice Secretary Menardo Guevarra that&nbsp;Wirecard's former chief operating officer Jan Marsalek did not arrive on the island, as it was earlier documented.

It has been revealed that the immigration documents for Marsalek entering&nbsp;in the Philippines on June 23 and departing for China the next day were falsified.

The officials who are suspects of falsifying this information have been fired from the job and are under investigation, as of now.

<a href="https://www.wionews.com/business-economy/total-disaster-after-germanys-wirecard-claims-21b-was-never-there-307680">Also read:&nbsp;'Total disaster' after Germany's Wirecard claims $2.1b was 'never there'</a>

"The investigation has now turned to persons who made the false entries in the database, their motives and their cohorts," Guevarra told reporters.

However, he added, "Notwithstanding the Bureau of Immigration report, I do not totally discount the possibility that Marsalek may be in the Philippines. We are an island country, and there are backdoors through which undocumented foreigners may slip through," he said.

Marsalek has an arrest warrant issued on his name, but he has been in hiding since the day the warrant was issued. Warrants were issued against ex-CEO Markus Braun and Marsalek on June 22. While Braun turned himself in that day, Marsalek disappeared without a trace and has not made any known contact since then.

The warrants have been issued for the investigation against the&nbsp;missing money and the alleged global fraud that took place through Wirecard.

Marsalek's lawyer has declined all requests for comment.

German payment group Wirecard recently announced that 1.9 billion Euros ($2.13 billion) earlier counted in foreign accounts "was never there". While this information came as a big shock, the latest developments in the case are even more shocking.

German payment group Wirecard recently announced that 1.9 billion Euros ($2.13 billion) earlier counted in foreign accounts "was never there". While this information came as a big shock, the latest developments in the case are even more shocking. It has now been announced on Saturday by Philippines Justice Secretary Menardo Guevarra that Wirecard's former chief operating officer Jan Marsalek did not arrive on the island, as it was earlier documented. It has been revealed that the immigration documents for Marsalek entering in the Philippines on June 23 and departing for China the next day were falsified. The officials who are suspects of falsifying this information have been fired from the job and are under investigation, as of now. Also read: 'Total disaster' after Germany's Wirecard claims $2.1b was 'never there' "The investigation has now turned to persons who made the false entries in the database, their motives and their cohorts," Guevarra told reporters. However, he added, "Notwithstanding the Bureau of Immigration report, I do not totally discount the possibility that Marsalek may be in the Philippines. We are an island country, and there are backdoors through which undocumented foreigners may slip through," he said. Marsalek has an arrest warrant issued on his name, but he has been in hiding since the day the warrant was issued. Warrants were issued against ex-CEO Markus Braun and Marsalek on June 22. While Braun turned himself in that day, Marsalek disappeared without a trace and has not made any known contact since then. The warrants have been issued for the investigation against the missing money and the alleged global fraud that took place through Wirecard. Marsalek's lawyer has declined all requests for comment.

Wirecard fraud: Ex-COO Marsalek's immigration papers in Philippines were faked

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