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Bloomberg article from yesterday[1] phrased it as "[..] auditors couldn’t find about 1.9 billion euros ($2.1 billion) in cash [..]" and "[..] were unable to fin
by weinzierl 6y ago
Bloomberg article from yesterday[1] phrased it as "[..] auditors couldn’t find about 1.9 billion euros ($2.1 billion) in cash [..]" and "[..] were unable to find accounts [..]"
I, too, was wondering what to think. How can I imagine to be unable to find an account?
[1] https://www.bloomberg.com/news/articles/2020-06-18/wirecard-drops-in-early-trading-before-delayed-financial-results https://www.bloomberg.com/news/articles/2020-06-18/wirecard-...
- jansan 6y agoAs I understand it Wirecard had a written confirmation by two Phillipine banks that there is 2 biion in desposits. E&Y got suspicious, because the confirmations arrived really fast, much faster thank banks usually take to issue these papers. So they sent a guy in the Phillipines to the banks to investigate. The banks claimed that there are no deposits and the documents were issues by an employee without authorization.