Wirecard with bankruptcy application
Wicecard is a global financial services and financial technology provider based in Germany. Recently, the company has become known due to significant gaps in the company’s finances, discovered by EY auditors.
The missing amounts detected by EY are $2.1 billion. Reuters indicates that this amount can reach up to 4 billion dollars. The detected irregularities, which are currently being dealt with by the Munich Public Prosecutor’s Office and the high level of debt to Wicecard’s creditors, made it necessary to file for bankruptcy.