Wirecard faces "impending insolvency". FT story coming shortly. New readers wanting an overview of the rise and fall start herehttps://www.ft.com/content/284fb1ad-ddc0-45df-a075-0709b36868db …
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Wirecard collapsed on Thursday as the once high-flying German payments service provider announced it would file for insolvency following revelations of a multiyear accounting fraud.https://www.ft.com/content/ac949729-6167-4b6c-ac3f-f0aa71aca193 …
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We made a video to explain the Wirecard story: "At times I thought I was going crazy."https://www.ft.com/video/37cb70e6-72df-471e-943d-2d32c2785650 …
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Significant new Wirecard story by
@OlafStorbeck@Tabby_Kinder and@stef_palma: EY failed for more than three years to request crucial account information from a Singapore bank where Wirecard claimed it had up to €1bn in cash — a routine audit procedurehttps://www.ft.com/content/a9deb987-df70-4a72-bd41-47ed8942e83b …15 replies 33 retweets 103 likesShow this thread -
ICYMI - I wrote a profile of Markus Braun with
@OlafStorbeck https://www.ft.com/content/ec986d0e-5d92-4e66-a595-0f8645f1aaf0 … and the Philippines is investigating Wirecard's partners there, as well as the trail of Jan Marsalek https://www.ft.com/content/80708a7e-bbba-4c19-b3e0-a4b1d49e2b85 …4 replies 12 retweets 35 likesShow this thread -
EY is preparing for a backlash -
@Tabby_Kinder shares the company's talking points prepared for partnershttps://www.ft.com/content/ae73160b-fd9a-4313-89f9-8fd70183158e …2 replies 5 retweets 25 likesShow this thread -
One big aspect of the Wirecard fallout is on fintech broadly, which likely faces more regulatory scrutiny and questions of trust after a freeze of the group's UK operations hit millions of accounts at other operators https://www.ft.com/content/dbe16ce4-f154-4985-a210-279fa1f53e24 …
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New story - Wirecard relied on a small number of customers for the majority of its genuine sales, according to an internal company spreadsheet that shows for the first time the real business behind the fintech group’s facade.https://www.ft.com/content/7c466351-02fe-4d66-85a1-53d012de7445 …
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In case customers of Monzo have any concerns given recent events, the group stopped using Wirecard in 2018. (That was after Wirecard and Monzo were proud winners of the Best Prepaid Product of the Year at The Card and Payments Awards 2017.)
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New twist in the FT Investigation - Wirecard executive Jan Marsalek bragged to London traders about his access to secret documents by showing them the formula for Novichok, the world's deadliest nerve agent. Free to read story: https://www.ft.com/content/941a9a2e-88df-4a66-9b3c-670bb7eb4d87 …
20 replies 174 retweets 273 likesShow this thread
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