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For background on Wirecard collapse today, these are the two key stories.
In October, we wrote that sales and profits appeared fraudulently inflated.
https://www.ft.com/content/19c6be2a-ee67-11e9-bfa4-b25f11f42901
In December, we wrote that "trustee accounts" were included in cash balances. https://www.ft.com/content/845b0dce-1836-11ea-9ee4-11f260415385
In October, we wrote that sales and profits appeared fraudulently inflated.
https://www.ft.com/content/19c6be2a-ee67-11e9-bfa4-b25f11f42901
In December, we wrote that "trustee accounts" were included in cash balances. https://www.ft.com/content/845b0dce-1836-11ea-9ee4-11f260415385
The rise and fall of Wirecard
with the indefatigable @OlafStorbeck https://www.ft.com/content/149cd24c-7a0d-4ef0-a46c-fece79124322
with the indefatigable @OlafStorbeck https://www.ft.com/content/149cd24c-7a0d-4ef0-a46c-fece79124322
The Wirecard fraud centres on faked documents.
Where did we start last year?
Whistleblower allegations of forged invoices and bogus contracts at its Asian headquarters
https://www.ft.com/content/d51a012e-1d6f-11e9-b126-46fc3ad87c65
Where did we start last year?
Whistleblower allegations of forged invoices and bogus contracts at its Asian headquarters
https://www.ft.com/content/d51a012e-1d6f-11e9-b126-46fc3ad87c65
Attention today is moving to the Philippines, which is where the amazing @stef_palma went last year to look for Wirecard's partners and found a bemused sailor
https://www.ft.com/content/cd12395e-4fb7-11e9-b401-8d9ef1626294
https://www.ft.com/content/cd12395e-4fb7-11e9-b401-8d9ef1626294
Where were the German regulators?
from @OlafStorbeck and @GuyChazan
"My impression was for a long time that Wirecard was seen as this delicate homegrown plant that needed to be protected,” said Fabio De Masi, a Berlin lawmaker
with the Die Linke party. https://www.ft.com/content/f62f7f56-3d45-492c-ae88-172948d21eb8
from @OlafStorbeck and @GuyChazan
"My impression was for a long time that Wirecard was seen as this delicate homegrown plant that needed to be protected,” said Fabio De Masi, a Berlin lawmaker
with the Die Linke party. https://www.ft.com/content/f62f7f56-3d45-492c-ae88-172948d21eb8
Wirecard faces "impending insolvency". FT story coming shortly. New readers wanting an overview of the rise and fall start here https://www.ft.com/content/284fb1ad-ddc0-45df-a075-0709b36868db
Wirecard collapsed on Thursday as the once high-flying German payments service provider announced it would file for insolvency following revelations of a multiyear accounting fraud. https://www.ft.com/content/ac949729-6167-4b6c-ac3f-f0aa71aca193
