German payment service provider Wirecard said Monday it has concluded that 1.9 billion euros ($2.1 billion) that were supposed to be held in two accounts probably don’t exist, deepening troubles that last week prompted the resignation of its chief executive. Wirecard AG was once regarded as a star of the growing financial technology sector, but its shares have fallen sharply after the company became the subject of multiple Financial Times reports about accounting irregularities in its Asian operations. Wirecard disputed the reports, which started in February 2019, and said it was the victim of speculators.
from Yahoo Finance https://ift.tt/316Kjye
Leave a Reply