- Dec 30, 2014
- Reaction score
- The Southwestern Desert
What? How can a publicly listed company like Wirecard keep fooling auditors for years? This is a major blow to Germany's financial industry, I'm not sure if this will ripple out into US banks.
Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books that its auditor EY said was the result of a sophisticated global fraud. The payments company filed for insolvency at a Munich court saying that, with 1.3 billion euros ($1.5 billion) of...