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Citadelle director faces more charges in Wirecard-related case

Bloomberg
Bloomberg8/21/2020 9:31 AM GMT+08  • 2 min read
Citadelle director faces more charges in Wirecard-related case
Singapore authorities have added two additional charges against the director of a local accounting firm in relation to the case tied to disgraced German payments company Wirecard AG.
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Singapore authorities have added two additional charges against the director of a local accounting firm in relation to the case tied to disgraced German payments company Wirecard AG.

R. Shanmugaratnam, a director of Citadelle Corporate Services Pte, was charged with “willfully and with intent to defraud” falsifying letters to Wirecard UK & Ireland, and Cardsystems Middle East FZ LLC, that the Singapore firm held tens of millions in euros in escrow accounts, according to charge sheets filed on Wednesday and seen by Bloomberg News.

The accusations follow four similar charges against the 54-year-old Singaporean, the first person to be indicted in the city-state over the spectacular collapse of Wirecard, which has reverberated across the world.

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