Tag Archives: wire card

Will customers ever get their money back?

Money held in millions of bank accounts has been frozen SOPA Images / LightRocket via Getty Images As the list of banking services that have been frozen due to the Wirecard collapse grows longer, millions of customers begin to wonder: is my account money safe? The troubling news is that …

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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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This is how Wirecard went from being an analyst to a $ 2.2 billion accounting scandal, and it cost SoftBank hundreds of millions in the process.

REUTERS / Michael Dalder Wirecard, one of Europe’s leading financial technology companies, is at the heart of one of the region’s largest corporate accounting scandals in recent years. The company’s shares have fallen more than 80% since it admitted that auditors were unable to track € 1.9 billion in their …

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