Germany's Wirecard: Missing accounts probably don't exist
https://apnews.com/9589d524c50766d557de61cd5a6cdd33
BERLIN (AP) — Germany payment service provider Wirecard AG said Monday it has concluded that two accounts that were supposed to contain 1.9 billion euros ($2.1 billion) probably don't exist, deepening troubles that last week prompted the resignation of its chief executive.
Wirecard was once regarded as a star of the growing financial technology sector, but its shares have fallen sharply from their peak after the company became the subject of multiple Financial Times reports about accounting irregularities. Wirecard disputed the reports, which started in February 2019, and said it was the victim of speculators.
Germany's Wirecard: Missing accounts probably don't exist
Jun 22, 2020, 7:25am UTC
https://apnews.com/9589d524c50766d557de61cd5a6cdd33
> BERLIN (AP) — Germany payment service provider Wirecard AG said Monday it has concluded that two accounts that were supposed to contain 1.9 billion euros ($2.1 billion) probably don't exist, deepening troubles that last week prompted the resignation of its chief executive.
> Wirecard was once regarded as a star of the growing financial technology sector, but its shares have fallen sharply from their peak after the company became the subject of multiple Financial Times reports about accounting irregularities. Wirecard disputed the reports, which started in February 2019, and said it was the victim of speculators.