Wirecard the Germany payments outfit and DAX 30 constituent last week announced that its thrice delayed 2019 Annual Report could still not be published as its auditor could not verify previously reported cash balances of €1.9bn. Before subsequently resigning its long-standing CEO, Marcus Braun, claimed that the company was itself a victim of fraud and that the cash had been deposited in the Philippines. This has been rejected by Filipino authorities and Wirecard has since acknowledged that the cash…
‘Why Wirecard had more red flags than a communist rally’
22 Jun 2020
Posted by Barry Norris