Wirecard on trial
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 20 December 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
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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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk. |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.5 | Today is Tuesday, December 20th, and this is your FT News Briefing. |
| 0:17.9 | A top US video game developer is coughing up a pretty epic settlement. |
| 0:22.8 | A key witness in Germany's Wirecard scandal testified in court yesterday, |
| 0:27.6 | plus more and more wealthy Chinese families are setting up |
| 0:31.2 | private investment offices in Singapore. |
| 0:34.2 | The numbers are quite staggering. |
| 0:36.0 | Lawyers and advisors are telling us that by the end of this year, |
| 0:40.6 | it could be up to 1,500 potentially more. |
| 0:44.0 | I'm Jess Smith in Fromark, Filipino, and here's the news you need to start your day. |
| 0:48.4 | A leading video game developer will pay more than half a billion dollars in settlements |
| 0:58.4 | with US regulators. |
| 1:00.0 | The US Federal Trade Commission claims that Epic, which is known for its popular game Fortnite, |
| 1:06.0 | illegally collected data on children and manipulated players into making unintentional purchases. |
| 1:12.9 | FTC chair Lena Kahn said the company used default settings |
| 1:17.1 | and deceptive interfaces to trick users. |
| 1:19.9 | Epic did not admit wrong doing his part of the settlement, |
| 1:22.9 | but it did make changes to its payment systems. |
| 1:31.2 | A former Wirecard executive testified in a Munich court yesterday |
| 1:35.5 | and described the company as a scam right from the start. |
... |
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