High Court dismisses Singapore firm's bid to release funds to pare Wirecard 'loans'

Wed, Nov 25, 2020 - 6:47 AM

The FT report said most of the new loans extended in early 2020 went to oCap, with the firm reportedly having a total debt to Wirecard of 230 million euros (S$367 million).

PHOTO: REUTERS

A SINGAPORE firm linked to Wirecard tried compelling Singapore authorities to release millions of seized funds every month, claiming that these were to repay "loans" from the scandal-tainted fintech, and expenses such as "accounting services".

oCap Management's motion – which asked for a...

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High Court dismisses Singapore firm's bid to release funds to pare Wirecard 'loans'

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