Wirecard filed for protection from creditors through insolvency proceedings in June after admitting that 1.9 billion euros (USD 2.3 billion) supposedly held in trust accounts in the Philippines probably didn't exist.
Some German lawmakers have accused authorities from financial supervisors to prosecutors and auditors of looking the other way, despite reports of irregularities at Wirecard dating back at least five years. The committee is investigating.
Asked about a meeting ahead of the China visit with Karl-Theodor zu Guttenberg, a former defense minister whose firm advised Wirecard, Merkel said she could not remember if Guttenberg had specifically named Wirecard.
Prosecutors in Munich are investigating the company's former chief executive, Markus Braun, on suspicion of criminal fraud.
Finance Minister Olaf Scholz appeared by the committee on Thursday. Scholz denied any responsibility on his or the government's part for failures of oversight.
He also rejected suggestions that German regulators or the Finance Ministry, which oversees them, protected Wirecard. But he conceded that the regulatory structure had not been set up well enough for such a case.
Scholz is also Germany's vice chancellor and his Social Democratic Party's candidate for chancellor in the country's Sept. 26 national election. Merkel is not running again and plans to leave office after almost 16 years as chancellor.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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