Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile4 entries
2020
Missing €1.9 billion and accounting-fraud scandal
Wirecard acknowledged that approximately €1.9 billion supposedly held in trustee accounts could not be verified and likely never existed. The disclosure precipitated executive resignations, arrests, insolvency and investigations across several jurisdictions.
2020
Wirecard auditor reports missing evidence for €1.9 billion
Issue disclosure
Wirecard's designated auditor stated that it could not find audit evidence for €1.9 billion. In connection with this, Wirecard's former CEO said it was unclear whether fraudulent transactions to the company's detriment had occurred. The event concerns the auditor's reported inability to locate audit evidence for the stated amount and the former CEO's comment on whether harmful fraudulent transactions had taken place.
Wirecard's designated auditor said it could not find audit evidence for €1.9 billion. Wirecard's former CEO said it was unclear whether fraudulent transactions to the company's detriment had occurred.
Source excerpt
The nail-biting drama began yesterday when Ernest & Young – Wirecard’s designated auditor – revealed that it could not find audit evidence pertaining to €1.9 billion or $2.1 billion.
It is currently unclear whether fraudulent transactions to the detriment of Wirecard AG have occurred.
2020
Authorities investigate Wirecard's accounts
Investigation
German regulators and prosecutors were investigating Wirecard's accounts over whether the company used fictitious revenue to inflate sales and mislead investors. Munich prosecutors said a team searched three properties in Munich and two in Vienna on Wednesday, July 1, 2020.
Source excerpt
德国监管机构和检察官正在深入调查这家欧洲最有前途的金融技术公司的账目，以弄清楚这家公司是否曾利用虚假收入夸大销售额，并在公司财务健康状况方面愚弄投资者。
慕尼黑的检察官周三说，一个由检察官、警察和信息技术专家组成的团队对该公司在慕尼黑的三处房产和维也纳的两处房产进行了搜查。
2019
Financial Times investigations and retaliation controversy
Investigative reporting and whistleblower material alleged accounting irregularities in Wirecard’s Asian operations. The company denied the allegations and pursued complaints against the newspaper and critics, while German authorities investigated aspects of the dispute.