This analyst who defended Wirecard

A Commerzbank analyst is accused of passing confidential information from investor shareholders to the German fintech. She was made redundant by the Bank of Frankfurt.

Commerzbank separated from its analyst Wirecard because it passed on information about a client to German fintech.

Heike Pauls was a huge Wirecard fan. Until the end, this Commerzbank analyst recommended that clients of her bank buy securities from the German fintech, which turned out to be the biggest accounting scandal in recent history. At the end of January 2019, in a study entitled “Fake News”, she rejected all the accusations of the “Financial Times” against the company, and accused the newspaper which had denounced the fraud of manipulating the markets.

The Wirecard affair uncovered a hole of nearly 2 billion euros in the accounts of the former Dax star. A disaster that cost the president of the regulator BaFin and the vice-president in charge of supervising securities on the markets his post.