How does an executive of a regulator justify to himself taking home €6.8 million? Long hours, low salary, wanting to do the best for the family? Or just plain greed and criminality.
Here is a financial crime! German prosecutors should focus on these and leave shareholders to worry about what compensation and bonus they decide to award to their executives.
Onésimo Alvarez-Moro
See article:
The scope of the fraud and corruption scandal at Germany’s financial watchdog Bafin grew on Monday as the state prosecutor charged a former director with embezzling more than €6.8m.
Michael Raumann, former head of information technology at Bafin, and the manager of an external consulting company, pocketed at least that figure in a scheme involving bogus orders for computer equipment, the prosecutor said.
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