Balance sheet scandal: Wirecard's share price falls 38 percent – search for 1.9 billion euros

The balance sheet scandal to the payment service provider Wirecard has resulted in further share price slip: The paper lost in early trade, just under 38 percen

Balance sheet scandal: Wirecard's share price falls 38 percent – search for 1.9 billion euros

The balance sheet scandal to the payment service provider Wirecard has resulted in further share price slip: The paper lost in early trade, just under 38 percent, and cost only a little more than 15 Euro. On Thursday and Friday, the value of the securities decreased by more than 80 percent, the Wirecard is shrunk-market value of almost 1.9 billion euros, 11 billion euros less than on Wednesday of last week.

the trigger for the new descent: The Dax group does not, in the meantime, that Bank deposits are to trust accounts in the amount of EUR 1.9 billion, which were previously reported as assets in the balance sheet, "with probability".

Meanwhile, it has now become well-known, who was the Trustee of 1.9 billion euros. According to Reports of the "Spiegel" and "süddeutsche Zeitung" is the name of he Mark Tolentino is a lawyer with a firm in the Philippine financial center of Makati City.

WIRECARD -- -- (--) Xetra tradegate London SE Int. Level 1StuttgartFrankfurtLang & black Switzerland OTCWienSchweiz 1T 1W 3M 1J 3J 5J For detail view

A stock trader revealed in the light of the since Thursday to Wirecard prevailing panic of investors is hardly surprising that the share event is now more "like a stone". "In the case, the knife wants to attack no-one in," he said. "The future of the company is currently more than uncertain." Added to this is a wave of lawsuits.

After the economy had denied the auditors of EY, the audit opinion for the financial statements due to the lack of funds, could banks, Wirecard turn off the money faucet. In addition, Wirecard has increased as a result not only of its preliminary assessment for fiscal year 2019, but also the Figures for the first quarter. The potential impact on the financial statements of previous financial years will not be excluded.

Updated Date: 22 June 2020, 14:20

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