r2d2 Posted June 19, 2020 Report Posted June 19, 2020 Wirecard CEO quits after $2 billion goes missing and fraud accusations fly More than $2 billion has gone missing at one of Europe's most vaunted tech companies. If it's not found quickly, the digital payments firm may never recover. Wirecard (WCAGY) delayed the publication of its 2019 financial results on Thursday, saying its auditors couldn't account for €1.9 billion ($2.1 billion) in cash. Then on Friday, the German company's CEO, Markus Braun, resigned. Investors reacted by pushing shares in the company down by more than 75% over two trading sessions. Quote
r2d2 Posted June 22, 2020 Author Report Posted June 22, 2020 Scandal-plagued Wirecard has acknowledged that $2.1 billion its auditors were unable to locate probably never existed, deepening a crisis at the German digital payments company. Quote
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