Wirecard: Bankruptcy, mishaps and failures

in Front of one and a half months of the Wirecard-in-chief was still on top of it: "When the noise and the dust has settled, then Wirecard is a company that ge

Wirecard: Bankruptcy, mishaps and failures

in Front of one and a half months of the Wirecard-in-chief was still on top of it: "When the noise and the dust has settled, then Wirecard is a company that generates this year, a billion euros of Ebitda and the fastest in the industry grows," – says Markus Braun wrote on 17. May on Twitter. From today's perspective, the slogan to his long-suffering shareholders seems bizarre. The question is: language as an ignorant victim of the dark machinations in the controlled entities, or an unscrupulous offenders with high criminal energy? To find the answer, so that the law enforcers will be busy for years to come.

Marcus Theurer

editor in the economy of the Frankfurt General Sunday newspaper.

F. A. Z.

in The end, everything went extremely fast at Wirecard. Less than two weeks, at least, the very big optimists, among the shareholders could still hope that somehow everything will turn. On Thursday, the 18. June, then began the final crash of the Wirecard AG stock. Instead of publishing finally made its overdue financial statements, confessed to the group that on trust accounts in Asia, the cash balance of 1.9 billion euros, without a trace disappeared. The sum corresponded to approximately a quarter of the total balance sheet of Wirecard.

Now it went blow on blow: the resignation of his followers acclaimed years of "Masterminds" brown, an arrest warrant against the Manager who is now on bail and eventually the bankruptcy petition. The flash-From for Wirecard stands in a strange contrast to the long history of this scandal to the payment service provider of the Munich suburb of Aschheim: in the summer of 2008, rumors in the case of Wirecard dubious-balance-running shenanigans were, for a bout of weakness in the stock.

Updated Date: 28 June 2020, 05:20

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