Wirecard: another accusation from the FT
(CercleFinance.com) - The Wirecard share has collapsed, down around 18% in Frankfurt this morning, with the Financial Times accusing the German group of accounting fraud.
Accordin to the FT, "Internal company spreadsheets, along with related correspondence between senior members of Wirecard's finance team, appear to indicate a concerted effort to fraudulently inflate sales and profits" of its businesses in Dubaï and Ireland "to potentially mislead EY, Wirecard's tier-one auditor," the pink pages add.
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