Germany's financial watchdog BaFin on Wednesday filed a criminal complaint against Greensill Bank, the prosecutor's office in Bremen said.

According to local reports, the regulator accuses Greensill Bank's management for suspected balance sheet manipulation.

The Financial Times reports that the complaint was filed with criminal prosecutors in Bremen, where Greensill is based, and it comes as the lender's supply chain finance business begins to unravel around the world.

(With input from the agencies)