Wirecard’s missing billions: Do they exist, or did Germany just get its own Enron?

Wirecard’s missing billions: Do they exist, or did Germany just get its own Enron?


Mystery surrounds billions of euros missing from embattled German fintech firm Wirecard, a scandal that’s not only rocked its share price, but caused its billionaire CEO Markus Braun to resign. Stock in Wirecard, which serves as a middle-man for international ecommerce, has crashed almost 90% since the company admitted EY auditors had failed to trace 1.9 billion euros ($2.1 billion) last Thursday — cash that represents roughly two-third’s of the company‘s revenue from 2019. [Read: 3 tech stocks that surged in price this year — but didn’t get much attention] Today, Wirecard conceded the prevailing likelihood is that the related bank trust account balances “do…

This story continues at The Next Web
  1. No comment added yet!
  2. Leave Your Comment

    Your email address will not be published. Required fields are marked *

AtSign Innovations