After Wirecard review, Singapore launches probe into Citadelle, Senjo Group

FAN Editor
FILE PHOTO: The logo of Wirecard AG is pictured at its headquarters in Aschheim
FILE PHOTO: The logo of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions, is pictured at its headquarters in Aschheim, near Munich, Germany, July 1, 2020. REUTERS/Andreas Gebert/File Photo

July 3, 2020

SINGAPORE (Reuters) – Singapore authorities said they launched an investigation into Citadelle Corporate Services, Senjo Group and its subsidiaries after scrutinising collapsed German payments firm Wirecard’s <WDIG.DE> local operations.

The investigation was for “suspected falsification of accounts,” and “for carrying on a trust business without a licence”, the Commercial Affairs Department (CAD) – the police unit that deals with white collar crime – and the Monetary Authority of Singapore said in a statement late on Friady.

MAS said last week it was working with the CAD and Singapore’s accounting regulator to scrutinise local operations of Wirecard, which filed for insolvency last month.

Emails sent by Reuters to Senjo Group and Citadelle to the addresses listed on their websites could not be delivered.

(Reporting by Aradhana Aravindan and Anshuman Daga; editing by John Stonestreet)

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