Wirecard scrambles to find missing $2.1 bn, shares slump over 60%

Chief Executive Markus Braun said in Thursday's statement that Wirecard, which was founded in 1999, was urgently seeking to clarify the balances in question.

Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down more than 60% as the German payments firm said the delay could cause billions in loans to be called in as soon as Friday.
 

EY was unable to confirm the existence of 1.9 billion euros ($2.1 billion) in cash balances on trust accounts, representing around a quarter of its balance sheet, Wirecard said, adding that there was evidence of “spurious balance confirmations”.
 

Chief Executive Markus Braun said in Thursday’s statement that Wirecard, which was founded in 1999, was urgently seeking to