First person in Singapore charged over Wirecard scandal

An officer at Citadelle Corporate Services has been accused of falsifying letters to Wirecard UK & Ireland Ltd

Kelly Ng

Published Fri, Aug 7, 2020 · 09:50 PM

Singapore

IN THE first case before the Singapore courts associated with scandal-hit German payments company Wirecard, Singaporean R. Shanmugaratnam has been slapped with four charges of falsifying letters that stated bogus balances held in his company's accounts.

The 54-year-old was described by The Financial Times as having "controlled" Citadelle Corporate Services - one of two companies into which the Singapore authorities have launched a joint probe.

He is accused of falsifying four letters to Wirecard UK & Ireland Ltd, misrepresenting the balances held by Citadelle in an escrow account with amounts ranging between 30 million euros (S$48.8 million) a…