Is Wirecard a scam?
German payment processor and former DAX 30 component. Filed for insolvency June 25, 2020 after auditor EY refused to sign off on accounts containing a phantom 1.9 billion EUR cash balance supposedly held in Philippine bank trust accounts. The funds did not exist.
| Status | prosecuted |
|---|---|
| Category | corporate-fraud |
| First observed | 1999-01-01 |
| Collapsed | 2020-06-25 |
| Reported victims | 100,000 |
| Estimated losses | $2,000,000,000 |