[wirecard] How the Biggest Fraud in German History Unravelled… A readable, sometimes amusing overview of the Wirecard Scandal from the New Yorker. ‘In the year leading up to Wirecard’s collapse, in June, 2020, the leadership plotted a takeover of Deutsche Bank—an acquisition so huge that Wirecard’s balance-sheet fraud might be buried in the deal. “It was essentially Braun’s last roll of the dice,” Murphy said. Wirecard’s desperation continued. The auditors focussed on two bank accounts in the Philippines, which purportedly held the missing two billion euros. COVID restrictions complicated the auditors’ ability to visit the banks in person, so Wirecard reportedly hired Filipino actors, posing in fake bank cubicles, to attest to the funds on a video call. But the auditors persisted, and asked Wirecard to prove that it controlled the funds by transferring four hundred million euros to one of its accounts in Germany.’
This entry was posted on Wednesday, May 3rd, 2023 at 5:47 pm and is filed under Crime.