Scandal-hit Wirecard files for insolvency
According to reports, Wirecard is to start insolvency procedures after it admitted the estimated €1.9 billion it asserted was on its balance sheet does not exist. – EPA pic, June 25, 2020.
STRICKEN payments provider Wirecard said today it is filing for insolvency, days after the high-profile German company admitted that €1.9 billion were missing from its accounts. The latest twist in a case that is fast becoming one of Germany’s biggest financial scandals comes shortly after ex-CEO Markus Braun was detained before being freed on bail.
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