Wirecard scandal puts spotlight on German company regulation

Wirecard scandal puts spotlight on German company regulation

4 years ago
Anonymous $GRbK1oXs9y

https://apnews.com/c0f1f93142dbba2e75bcc25c4b277b42

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate titans.

Some 1.9 billion euros ($2.1 billion) vanished from payment systems provider Wirecard, until recently heralded as Germany’s emerging giant of the financial tech sector. Its CEO was arrested on suspicion of market manipulation and inflating financial numbers.

Wirecard scandal puts spotlight on German company regulation

Jun 24, 2020, 9:30pm UTC
https://apnews.com/c0f1f93142dbba2e75bcc25c4b277b42 > FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate titans. > Some 1.9 billion euros ($2.1 billion) vanished from payment systems provider Wirecard, until recently heralded as Germany’s emerging giant of the financial tech sector. Its CEO was arrested on suspicion of market manipulation and inflating financial numbers.