Tag Archives: insolvency

Wirecard filed for insolvency after a devastating scandal in which $ 2 billion went missing and its former CEO was arrested.

CHRISTOF STACHE / Getty Wirecard, a valuable German financial technology firm, filed for bankruptcy on Thursday as it battles a major accounting scandal. According to auditors, more than $ 2 billion disappeared from the company’s balance sheet, and Wirecard later admitted that the money never existed. In a statement Thursday, …

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