German Authorities Need Someone to Blame, Some Sort of Closure

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Oliver Bellenhaus turned himself in and yesterday testified against his former colleagues. Dan, another of the three executives who has yet to testify is former Chief Executive Marcus Brown. He says he's completely innocent, he knew nothing about it. How strong a case do you think German authorities have?Dan: I think so many people lost money, billions and billions of euros, that there's a need for someone to blame - some closure.

US regulators settled a record breaking case against the maker of video game Fortnite, a former Wirecard executive told a Munich court that the collapsed German payments company was a “sloppily done fraud”, and a boom in mainland Chinese family offices setting up in Singapore is drawing in thousands of financial professionals.

Mentioned in this podcast:

Epic Games pays FTC $520mn to resolve ‘Fortnite’ claims

Wirecard was ‘sloppily done fraud’, chief witness tells Munich court

Booming Chinese family offices recruit top bankers in Singapore

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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