{"id":12758,"date":"2020-06-22T17:39:00","date_gmt":"2020-06-22T14:39:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/wirecard-says-missing-2-1b-likely-never-existed-amid-financial-scandal\/"},"modified":"2020-06-22T17:39:00","modified_gmt":"2020-06-22T14:39:00","slug":"wirecard-says-missing-2-1b-likely-never-existed-amid-financial-scandal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/wirecard-says-missing-2-1b-likely-never-existed-amid-financial-scandal\/","title":{"rendered":"#Wirecard says missing $2.1B likely never existed amid financial scandal"},"content":{"rendered":"

“#Wirecard says missing $2.1B likely never existed amid financial scandal<\/strong>”<\/p>\n

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June 22, 2020 |<\/span> 10:39am |<\/span> Updated June 22, 2020 | 10:55am<\/span><\/p>\n

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\n The $2.1 billion that went missing from Wirecard\u2019s accounts likely never existed in the first place, the German payments processor said Monday as a massive financial scandal engulfed the company.<\/p>\n

Wirecard admitted last week that it couldn\u2019t confirm the existence of some 1.9 billion euros attributed to its bank trust accounts last year. But the company\u2019s management board has now determined there\u2019s \u201ca prevailing likelihood\u201d that the account balances \u201cdo not exist,\u201d it said in a statement.<\/p>\n

Wirecard also withdrew its 2019 financial statements and its results for the first quarter of 2020. The company\u2019s auditor refused to sign off on its accounts for 2019 because of the missing cash, which accounted for roughly a quarter of Wirecard\u2019s balance sheet.<\/p>\n

\u201cIn addition, the company is examining a broad range of possible further measures to ensure continuation of its business operations, including cost reductions as well as restructuring, disposal or termination of business units and products segments,\u201d Wirecard said in a statement.<\/p>\n

The price of Wirecard\u2019s Frankfurt-listed stock fell as much as 49.6 percent on Monday, adding to a more than 75 percent loss in two days after the scandal erupted last week. Chief executive Markus Braun resigned Friday, saying he accepted that \u201cresponsibility for all business transactions lies with the CEO.\u201d<\/p>\n

A whistleblower complaint accusing Wirecard of benefitting from a web of bogus transactions sparked a search for the missing money that led to the Philippines. But the nation\u2019s central bank said none of the funds app<\/a>eared to have come into the country, and two banks there said documents allegedly showing deposits from Wirecard were false.<\/p>\n

Wirecard processes payments for companies such as Visa and Mastercard and offers technology<\/a> to support mobile payments, including its own app. The company\u2019s success launched it into Germany\u2019s blue-chip DAX index in 2018, a status that Mirabaud analysts say should now be reviewed.<\/p>\n

With Post Wires<\/em>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

Source<\/a><\/span><\/p>\n

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“#Wirecard says missing $2.1B likely never existed amid financial scandal” June 22, 2020 | 10:39am | Updated June 22, 2020 | 10:55am Join the New York Post and Mansion Global for a live conversation on how COVID-19 has affected top real estate markets in the US, Friday, 6\/26 @ 12 p.m. EST. Register here. The…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[25704],"class_list":["post-12758","post","type-post","status-publish","format-standard","hentry","category-general","tag-wirecard-says-missing-2-1b-likely-never-existed-amid-financial-scandal"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/12758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=12758"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/12758\/revisions"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=12758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=12758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=12758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}