Wirecard is a victim in “the case of fraud on a considerable scale”?

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Due to ambiguities in the balance sheet, the Dax had to group Wirecard the submission of its annual financial statements for the past year move – for the second Time. The stock crashed dramatically, and also the place as a Dax-listed company is at risk. It is the existence of Bank accounts in the billions, for which, according to the auditor of Wirecard are no adequate examination of available evidence. The company itself filed a complaint against Unknown because of suspected fraud. Company boss Markus Braun on Thursday evening at the company’s own YouTube channel to comment.

Markus Braun, CEO, Wirecard AG
We have been informed by our auditor, EY in Germany, that a confirmation note to the financial statements for the fiscal year 2019 confirmations requires due to unauthorized Bank further audit procedures. This is due to releases from two banks to manage trust accounts, to the auditor, EY. The two banks have a Trustee managing the trust accounts to switch for 2019 accepted. Both banks have an Investment Grade Rating from Moody’s or S&P. According to EY, there are indications that the economy, have been audited by a Trustee or out of the range of these banks submitted fraudulent purposes, wrong sides confirmations. The Trustee, with a mandate for 2019, is in constant contact with the banks and the Wirecard AG. It is currently unclear why the two banks have explained to the auditors that the receipts are fake. The Trustees of the Wirecard AG has announced that it will clarify the facts of the case in the short term, with the two banks, which manage the trust accounts. It can currently not be excluded that Wirecard AG is in a case of fraud on a considerable scale to the Injured party.

The group should also present this Friday, no audited statements, the threat of termination of credit in the amount of about two billion euros. The payment service provider is confronted since a few months, with accounting fraud allegations.

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