Wirecard AG: DAX, fraud and bankruptcy history of the crash | economic

a billion-dollar fraud scandal is advised Wirecard in the headlines. For the first time DAX had to file for company bankruptcy. Wirecard is due to fraud alle

Wirecard AG: DAX, fraud and bankruptcy history of the crash | economic

a billion-dollar fraud scandal is advised Wirecard in the headlines. For the first time DAX had to file for company bankruptcy.

Wirecard is due to fraud allegations, in the headlines . Similar accusations run like a red thread through the business history . It is part of fraud detection even to the business field of the company.

Aschheim - in The end, it went blow on blow: As the financial controller of Ernst & Young the already damaged financial services provider Wirecard is the certification (confirmation) refused, dropping only the course of the DAX-listed company.

a Little later, the alleged were drawn to trust accounts lying € 1.9 billion in a press release for the first time by Wirecard self-doubt. A few days later was at 25. June has logged Wirecard insolvency.

Wirecard concluded by a insolvency to the stock exchange

How it came to be? No one knew that shortly after the dramatic development yet. Professionals, remember, though, that it was not the first crash the 1999-founded company. In fact, Wirecards story began at the stock exchange even me a insolvency .

Wirecard joined in 2005, following in the footsteps of the bankrupt Info-genius , by the Aschheimer company took over the stock jacket (to Act right, on the stock exchange). However, in connection Wirecard had some very good years.

+ Wirecard has its headquarters in Aschheim near Munich.©AFP / CHRISTOF STACHE

Wirecard, doing business in the field of Online-Payment - DAX-entry followed, 2018

With Online Payment solutions - including Software for fraud detection - expanded the group from a small Aschheim bei München in the whole world, including North America and China. 2018, the recording in the share index, the DAX took place .

But even in the boom years and were always allegations of fraud to Wirecard. In 2008, the protection of investors ( SdK ) accused the Bayern misleading accounting .

share price of Wirecard broke multiple

Together with Ernst & Young could invalidate Wirecard the allegations at the time. It was, in fact, on the contrary, a manipulate of the SdK and some ally Fund Manager tried .

Nevertheless, the Gossip stopped. In the following years, similar messages appeared over and over again, the Wirecard in a negative light advanced. Although the company was always legal defense, dropping the price each Time.

Ernst and Young also fell under suspicion

Therefore, the new break-in may have acted at first only as one of many in the history of Wirecard. However, in retrospect, shows that it is actually a long-running fraud practice Wirecard.

The told the again with the audit officer analysts from Ernst & Young. Exactly when the fraud began, was at this time still unknown. Ernst & Young are advised by its long-standing commitment, however, suspicion .

Wirecard-shares collapsed 2020 the Floor

Wirecard booth 2020 finally, the entire leadership in the focus of the investigation. Ex-chief of Markus Braun came out on bail, the former Executive Board Jan Marsalek was discontinued, possibly to China, as the mirror reported.

the price of The Wirecard stock fell then to the Ground, they should be taken up by the market. It is the biggest scandal in the Dax-history and at the same time, the first Time a DAX-listed company will go bankrupt.

Updated Date: 27 June 2020, 21:33

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