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Singapore Convicts Wirecard Executives

Singapore Convicts Wirecard Executives

by Starling Insights

Starling Insights Editorial Board

Jun 26, 2023

Observations

Singapore Germany Culture & Conduct Supervision Culture & Consequences Toxic Culture Culture & Misconduct The Costs of Misconduct The Era of Accountability

Two former senior finance executives of Wirecard, James Wardhana and Chai Ai Lim, have been sentenced to prison in Singapore, marking the first criminal convictions related to the collapse of the German payments company. Wardhana was sentenced to 21 months in prison, while Lim was sentenced to 10 months.

The two convicted executives admitted to being active participants in the embezzlement conspiracy, working with their superior, Edo Kurniawan, who is currently a fugitive with an Interpol red notice against him. Kurniawan led Wirecard's accounting in the Asia-Pacific region and disappeared ten days after the Financial Times published reports on suspected accounting irregularities at the company.

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