“The Management Board of Wirecard assesses on the basis of further examination that there is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist,” the company said in a statement. Chief Executive Officer Markus Braun quit on Friday as the company’s search for $2.1 billion of missing cash hit a dead end in the Philippines and as it scrambled to secure a financial lifeline from its banks. The central bank of Philippines said on Sunday that none of the $2.1 billion missing from Wirecard appeared to have entered the Philippine financial system.
from Yahoo Finance https://ift.tt/3hQXRE7
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