The NYT wouldn't have hesitated to publish Tyrese's photo had he been white and Fahim had been black. Probably their respective races would have even been mentioned in the headline.
Pretty poor analogy, since rather than just being slow to "catch up" to the fraud, the German government actively abetted it by jailing a short seller and halting any short selling of Wirecard.
Additionally, Madoff's fraud was of a private investment fund only open to higher networth SEC-accredited investors (who presumably need less protection), whereas Wirecard was publicly traded on a major exchange, where anyone could buy shares of it.