Lithuanian fintech under investigation for Wirecard fraud

Wirecard collapsed last year after revelations of a $2.3bn discrepancy on it’s balance sheet with forensic investigations linking it to Finolita

Wirecard says it may be the victim of fraud after $2.1 billion goes missing

CNBC’s Annette Weisbach discusses the controversy surrounding German payments giant Wirecard.

Wirecard and the Curious Case of the Missing $2 Billion | WSJ

Payment processing company Wirecard was the darling of Germany’s fintech industry until auditors uncovered a $2 billion hole in its accounting. WSJ explains what we know about the missing money, as investigators are still trying to understand what happened. Photo composite: George Downs

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The Rise and Fall of Wirecard: A Story of Fraud and Deceit

In today’s episode of Let’s Teach – the story of Wirecard, a darling of the tech world that crumpled into insolvency within nine days.

Investors were lured by its rapid growth and aggressive expansion strategy, only to later find out that they had poured their money into a company with fake numbers and fake offices.

In mid-2020, newspapers were filled with stories about the COVID-19 pandemic, from death tolls to lockdown measures and mask mandates. Given the fear and panic that everyone felt at the time, it was easy to ignore headlines about Wirecard – a German fintech company that had gone bust.

The pandemic may have overshadowed Wirecard’s fall but its story shouldn’t be overlooked because it exposes how financial regulators are sometimes as untrustworthy as the companies they keep an eye on, no matter how reputable they might seem to be.

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The Wirecard Fraud – How One Man Fooled all of Germany

The heavily requested video on the wirecard scandal. How can $2 billion just go missing? This story raises many questions about the regulatory bodies we all trust to keep the business financial system in line.

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