Good luck squeezing out of this one. Wirecard, the major German payment processing company, has shown in an audit that its books are missing around €1.9 billion in cash. It turns out, as per external reviews, that this cash never actually existed at all. This time isn’t the first that Wirecard has run afoul of auditors. Let’s step back a few years to discover where Wirecard came from, how it functions today, and how it ended up in such a mess. Wirecard, founded in 1999 during the dot com boom, is one of the few surviving companies born in that…...
How Wirecard Concealed Its €1.9 Billion Plothole
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