Wirecard shares fall due to market manipulation investigations

[Jamie McKane]

Wirecard shares fall due to market manipulation investigations

Investigations into German payments company Wirecard AG intensified as police in Singapore raided local offices, while Munich prosecutors started a probe into possible market manipulation over reports that caused the shares to tank.

[Bloomberg]

 

[Gordon_R]

Insolvent:

Wirecard: Scandal-hit firm files for insolvency

The once high-flying payments firm Wirecard files for insolvency after a €1.9bn accounting scandal.

www.bbc.com

Wirecard, which was launched as a start-up in 1999, joined Germany's prestigious Dax 30 share index two years ago at a valuation of €24bn.

But the company's shares have crashed almost 100% in the last week, giving it a stock market valuation of less than €400m.

 

[Sinbad]

And their compliance officer is called Steinhoff .....

 

[Gordon_R]

Some executives on trial (others fled).

Wirecard trial of executives opens in German fraud scandal

Markus Braun, who ran the disgraced payment firm, presided over its meteoric rise and disastrous fall.

www.bbc.com