Doing such an act of fraud in the United States is a massive issue and can be fined millions of dollars out of it. However, there is this country where authorities don’t really care about companies and individuals speaking out about wrongful monetary gain.
The idea of listing shares of Tesla should be handed over Elon Musk. He should list his company’s unit used as mutual funds In Germany, where he has liberty by doing an act of freedom of speech, posting tweets about anything he wants without the interference of law enforcement – no matter how fraudulent the act is.
In the past, for the reason of alleged securities fraud, US regulators have fined Tesla $40 Million and ordered that Elon’s Musk tweets should be fact-checked before it is posted. However, despite the US authorities moving further and not conceded with the case. Elon had obviously disregarded the file against him. If Elon’s actions in tweeting with regards to “funding secured” were implicated in Germany, he could have gotten away with it easily.
As a further matter, currently short sellers and press critics, journalist and analysts were the ones to be the subject of the investigation if they are to spout off any information, exposing alleged fraud and money laundering at one of Germany’s powerful firms. German authorities do not really prioritize company fraud. However, they focus on such individuals or groups who dare to go against the German Company.
One of a third-party company that’s been appointed by merchants to handle payments faced numerous issues over the period of time. Wirecard is a payment processor had a market capitalization over €20 billion. It is an operator of global payments. Its key role is to be responsible for protecting illegitimate money from lawbreakers and to prevent terrorist to break into the gateway of the global banking system and to its network. Furthermore, Wirecard has been the subject to the allegations of practicing money laundering and fraud by investors who are a journalist and short sellers for the last ten years, which they’ve denied on their side.
The Financial Times had created a sequence of articles last January, asserting Wirecard had perpetrated actions of fraud on various affairs. The investigation went on to uncover the document which proves Wirecard is responsible for doing unlawful monetary actions, including forged and backdated contracts. There are less than four public critics who became the subject of countless investigations, in the reason of a serious and bombarded revelations of Wirecard ’s dirty secret.
Germans have notoriety for being rule withstanding individuals, nearly to blame. To those not captivated with U.S. president Donald Trump, Germany presents itself as a bastion of liberal majority rules system and principle of law. So normally you’d imagine that with all the analysis of Wirecard, German controllers would act rapidly to research the company. Truth be told, the inverse occurred.
German prosecutors have been open in expressing that they will not conduct an investigation against Wirecard ever since the reports were publicized. At that point, they went further and drew out an old money-related crisis tool, and really restricted short selling of Wirecard! German controllers guaranteed the boycott was a direct result of “enormous vulnerability” in the market. In an iteration of old praise “reality is stranger than fiction”, they are really examining the FT columnist, Dan McCrum. I am oblivious in such manner of similarities on forbidding short selling of a single company’s share by regulators, due to an unpleasing report.
Unlawful monetary cases have constant feedback given by German authorities in terms of dealing criticism against public companies in the past years, which in the side of Elon is pleasant news. Last 2016, despite our efforts showing our track records of six de-listings, numerous investors and government recoveries, German official opened a criminal investigation against me and firm. In the reason of expressing our condemnation towards unlawful reports in opposition to the Ströer, an advertising firm in Germany. Our case is comparable with every short seller and at least two foreign financial investigate journalists, who publicize their own critical investigations of anomalies in German stocks and they were also subject to investigation. Generally speaking, all of us who are under investigation has a long track record of uncovering fraud and scams.
Germany is by all accounts doing all that it can to protect its market and mistreat analysis of corporate bad behavior to a degree that should leave each financial specialist scrutinizing the trustworthiness of the German markets and the dangers of contributing there. Each nation has some level of corporate debasement and extortion. Nonetheless, by imagining the issue is remote faultfinders, instead of awful on-screen characters in Germany Inc., Germany is transforming itself into a place of refuge for corporate lawbreakers.
There are other countries that are practicing such an act of protectiveness with their market. Tolerating unlawful monetary activities, and deviating judgments, not to backlash against the company but the critics who have been constantly attacking the firm. These countries are Russia and China, allowing companies to continue their anomalies in the market.
Wirecard is not just the only company who had committed corporate corruption over the last few years. Prominent firms had been in the spotlight of perpetrating illegal financial cases. Volkswagen fraud action was a grievous controversy, resulting in consequences of numerous executives are bailing tens of billions of dollars and being placed in the penal institution.
Deutsche Bank has paid huge charges and is under a vast investigation by outside controllers, this has led individuals to carefully analyze the quality of Germany’s biggest monetary organization. One educator as of late called Deutsche Bank “the biggest criminal endeavor in Germany, which is something since it needs to contend with Volkswagen.”
As The Economist mentioned recently: “short-selling a company that is suspected of false accounting does not undermine markets—rather, it is a sign they are working.” It’s difficult to comprehend why a nation with such a solid economy would need to imperil its after war intense abundancy by attempting to do whatever they can to prevent analysis in exposing fraudulent activities. It’s not exceptional to substitute short merchants, however propelling criminal examinations concerning basic columnists goes a long ways past calling the media “the foe of the general population.” Banning short selling on a solitary stock stinks of franticness.
In this matter, individuals and groups who performed efforts in giving the masses clarity and transparency ought to be grasped, not gagged. Germany will, in the long run, have its Bernie Madoff or Lehman Brothers minute, except if it starts to pay attention to analysis. Up to that point, speculators must continue with vigilance.