Executives at German payment firm Wirecard AG were aware of and oversaw transactions that are at the center of a fraud probe at the company, the Financial Times reported.
The newspaper cited documents it had seen that suggest Wirecard COO Jan Marsalek was aware of transactions worth €2 million that were delayed while other executives waited for his input.
The money was routed from Germany to Singapore as part of an alleged "round tripping" scheme. Whistleblowers allege the firm was moving money around with the intention of making it seem like it was legitimate business revenue.
Wirecard said it would fully respond to the FT's latest allegations in two days, but said the issues "appear to be designed to attack the company with further insinuations and unjustified accusations."
Wirecard, which is suing the newspaper for unethical reporting, is facing a lawsuit of its own from investors over its failure to disclose the issue.