Famed short-seller Jim Chanos reportedly made $100 million betting against collapsed fintech Wirecard
Famed short-seller Jim Chanos made $100 million by betting against Wirecard since last year, the Financial Times reported on Friday.
Wirecard's troubles deepened this week when ex-CEO Markus Braun was arrested for a second time in Germany on Wednesday.Billionaire short-seller Jim Chanos has reportedly made almost $100 million by betting against the controversial German fintech Wirecard. "If you're a fundamental short-seller, the Wirecard story was a classic," he told the FT in an interview."The buzzwords, the numbers that didn't make sense, the business model that seemingly didn't make sense.
Chanos said that in April, a further indicator of Wirecard's impending downfall came up when its forensic audit with KPMG blundered.Wirecard became one of the biggest targets for short-sellers across Europe.
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