FRANKFURT, June 19 — The chief executive of Wirecard resigned today after the search for US$2.1 billion (RM8.9 billion) of cash missing from the embattled electronic payments firm hit a dead end in the Philippines. Markus Braun, who built the German company into one of the hottest investments in...
Friday, 19 Jun 2020 08:06 PM MYT
Markus Braun, who built the German company into one of the hottest investments in Europe, leaves Wirecard facing a looming cash crunch amid allegations of fraud over the missing money. The company warned yesterday that loans of roughly €2 billion could be terminated if its annual report is not published today.The company’s shares tanked again after two Philippine banks said the German payments company was not a client of theirs and alleged that documents had been falsified.
“Wirecard is not a client of the bank. The document claiming the existence of a Wirecard account with BDO is a falsified document and carries forged signatures of bank officers,” BDO said.
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