Germany's Leoni 'a Victim of Massive Fraud'

From Deutsche Welle

In an ad-hoc announcement for investors on Tuesday, Nuremberg-based technology company Leoni said it had become the target of criminal activities.

"Leoni realized it had become the victim of fraudulent activity with the help of falsified documents and identities and the use of electronic communications channels," the firm said.

It noted that sizeable corporate funds had been transferred to accounts abroad.

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