Wirecard AG: balance sheet-scandal is forcing companies in the knee insolvency petition filed | economy

In the Wake of the billion-dollar accounting scandal around Wirecard, the company has filed now bankruptcy. In the Wirecard scandal the Ex-head of the financ

Wirecard AG: balance sheet-scandal is forcing companies in the knee insolvency petition filed | economy

In the Wake of the billion-dollar accounting scandal around Wirecard, the company has filed now bankruptcy.

In the Wirecard scandal the Ex-head of the financial services provider has been arrested. Against Wirecard is calculated against the balance-sheet manipulation. A total of 1.9 billion euros will be gone - Wirecard has the bankruptcy filing a

Update from Thursday, 25.06.2020, 18.39 at: in a billion-dollar balance sheet-scandal involved, the payment service provider Wirecard on Thursday due to Indebtedness and threat filed of insolvency, insolvency , as the Munich district court said.

the subsidiaries, the insolvency of the meeting. Only the Wirecard Bank is to remain the exception. This is decoupled according to Wirecard, with the consent of the financial authority, Bafin, financially and organisationally by the parent company.

Provisional insolvency administrator at Wirecard the lawyer Michael Jaffé, the experience in the workup of air shops. So Jaffé is already a liquidator of an investment company, P&R, not a rented-existent Container and thousands of investors cheated.

Wirecard AG: balance sheet-scandal is forcing companies in the knee insolvency

Update from Thursday, 25.06.2020, 10.40 am: logged in to The account of a balance-sheet scandal severely tarnished the payment service provider Wirecard has submitted an application for insolvency. The have decided to the Board of Directors on Thursday, the company said in Aschheim near Munich, in a communication to the stock exchange. The German stock exchange suspended the trading of the shares for the time being.

"The Board of management of Wirecard AG has decided today, for which Wirecard AG is the competent local court of Munich, a request for opening of a bankruptcy procedure due to impending insolvency and over-Indebtedness", the company said on Thursday.

Wirecard scandal: Ex-boss Markus Braun comes against million bail

Update from Tuesday, 23.06.2020, 14.56 PM: The arrested former Wirecard-in-chief Markus Braun comes with a Deposit of five million Euro, again on free foot. The district court has set the arrest warrant against conditions except for law enforcement, such as the Munich state Prosecutor's office announced on Tuesday.

+ of The accounting scandal at the Dax-listed company Wirecard has been arrested the former Chairman of the Board Markus brown solid.©Lino Mirgeler/dpa

first message from Tuesday, 23.06.2020, 10.34 PM: Munich – After the admission of alleged air bookings in the billions needs to be afraid of in a balance-sheet scandal involved the Dax-group Wirecard further investigation. "We will check all the eligible crimes," said a spokeswoman for the Prosecutor's office of Munich I on Monday. Whether or not, specifically, against former or reigning Wirecard Manager due to balance sheet manipulation is determined or this is not planned, said the spokeswoman: details of the procedure were not called.

Wirecard scandal: air bookings in billions

In this context is the Ex-head of the financial service provider, Markus Braun , the arrested. The Prosecutor's office of Munich I, had asked, according to information from Tuesday on Monday with the competent investigation judge of the local court of Munich, a warrant of arrest against brown and received brown had made on Monday evening, the Prosecutor's office. He was only entered on Friday in the scandal over missing € 1.9 billion in the company's balance sheet.

Wirecard scandal: Ex-boss Markus Braun arrested

The Dax index of the group Wirecard had not communicated on Monday that the disappearance of 1.9 billion Euro to exist in its balance sheet at all. The backgrounds were initially unclear. The company is advised by the operations in severe turbulence.

The payment service provider is now on the precipice. Its future depends on the well-being of the banks do not want to, because the missing 1.9 billion euros on an escrow account in Asia, it is almost certainly. And so, Wirecard 2019 receive a certificate for the number of the year. The estimates to 2019, as well as for the first quarter and the forecasts for 2025, the group took back. The credit rating Agency Moody's pulled back now, her only late on Friday lowered the credit rating judgment completely. (marv with afp)

section list image:©Christof STACHE /AFP

Updated Date: 25 June 2020, 17:35

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