A screen grab taken from a video on July 8, 2020 shows four members of the management board of Wirecard AG Chief Product Officer Susanne Steidl, former CEO Markus Braun, Chief Financial Officer Alexander von Knoop and current CEO James Freis during a statement in Aschheim, near Munich, Germany June 19, 2020. Wirecard Handout/Reuters TV via Reuters
Prosecutors are now investigating Wirecard’s other senior managers on suspicion of fraud, breach of trust, false accounting and market manipulation. They have arrested former CEO Markus Braun, have a warrant out for the former chief operating officer and have widened the field of suspects to include all management board members except Freis. No charges have been filed.
Freis moved to Frankfurt from Washington six years ago to become head of compliance at Deutsche Boerse , which runs the Frankfurt Stock Exchange. Freis appeared in a video statement posted by Braun on Wirecard’s website late that night. In the video, Braun introduced the new compliance chief, who nodded awkwardly in acknowledgment. Braun also said in the video that Wirecard may have been the victim of a fraud “of substantial dimensions,” without specifying who may have been responsible.
Freis was also under pressure from Wirecard’s lenders. EY’s refusal to sign off on the accounts meant that creditors would be able to call in some 2 billion euros in loans. Freis worked over the weekend with Wirecard’s freshly appointed restructuring advisers to get a dialogue going with creditors, according to sources with knowledge of the matter.
Amazing
Somebody give that man a bonus.
С пристрастием , чем мыли !
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Why some investors are holding onto Wirecard shares even after insolvencyDespite its dramatic descent into insolvency last month, Wirecard's share price has not yet hit zero. Insolvency? You make it sound like the company has had a tough break. THE CEO AND EXECUTIVE TEAM HAVE DEFRAUDED BILLIONS AND LIKELY PARTICIPATED IN MONEY LAUNDERING FOR MURDERERS AND DRUG CARTELS
Source: CNBC - 🏆 12. / 72 Read more »
U.S. DoJ examining Wirecard as part of probe into alleged bank-fraud conspiracy: WSJThe U.S. Justice Department is examining whether German payment company Wirecard AG played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace, the Wall Street Journal reported on Wednesday. The reasons why Chinese eat bats and everything.. I'm getting punchy this afternoon. For a moment I tho't DoJ was examining 'Winecard'.
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Deutsche Bank still evaluating Wirecard Bank support: CEODeutsche Bank's chief executive said on Tuesday it was premature to say how the lender might aid the banking unit of collapsed payments service provider Wirecard. I guess ECB will rush as the FED did, unlimited QE.. if so buy wirecard stock.. someone will be there to cover the 2$B black hole scandal lol
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Wirecard administrator sees strong interest from potential buyersThe administrator of collapsed German payments firm Wirecard said on Tuesday that more than 100 investors have expressed interest in buying the company's core business and its holdings. $QLGN Make that consensus your propogandist machine
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Wirecard Probe Brings Scrutiny to How Fintech Companies Are AuditedAuditors are still figuring out how to assess the financial statements of fintech companies, a challenge highlighted in the recent accounting scandal surrounding German electronic-payments company Wirecard. Auditors need more Education They could always call a financial institution to check on their cash balance. Guess that is hard to do. NEED PRESCRIBED STANDARDS TO PREPARE, PRESENT FINANCIAL STATEMENTS FOR AUDIT. ACCOUNTS SHOULD DISPLAY CORRECT FACTS BASED ON EVIDENCE ONLY. PROBLEMS STARTS WITH TRYING TO REPLACE ESTIMATED VALUES TO COSTS,APPROPRIATIONS TO ACTUAL, ASSUMPTIONS TO FACTS. ACCOUNTS SHOULD BE ACTUAL.
Source: WSJ - 🏆 98. / 63 Read more »
Penn State basketball coach apologizes for 'noose' comment after a Black player shares that's why he transferredPat Chambers, head coach of the men's basketball team at Penn State, apologized Monday for comments he made in 2019 that led to the departure of then-freshman Rasir Bolton. What ails you people ia'mnotgoing to apologize of anything I say I mean what I say and I say what I mean He has to apologize but jimmykimmel gets a vacation & zero criticism for performing racist skits in black face for years Hypocritical media at its worst
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