Germany's Wirecard faked client data to gain £900 mn from SoftBank: Report

Collapsed fintech firm has admitted that half of its revenues and cash worth 1.9 billion euros is missing from accounts

German fintech giant Wirecard, before it collapsed in 2020, allegedly forged client data and internal records to secure 900 million euros as investment from Japanese conglomerate SoftBank, said a media report on Monday.

Wirecard allegedly cited SoftBank’s assistance to secure a separate funding of 500 million euros, UK’s Financial Times (FT) reported citing whistleblowers. The German company collapsed on June 25, 2020, and filed for insolvency admitting that half of its revenues and cash