Wirecard shares dive as Ernst & Young, says no evidence for 1.9 billion euros of cash on the balance sheet


Shares of Wirecard

lost, with 59% of the company, said Ernst & Young has said that no sufficient evidence could be obtained to-day cash balances on the trust accounts of € 1.9 billion, or about one-quarter of the balance. “There are indications that false confirmations of balances has been provided from the side of the trustee, respectively, to the trustee of the account holding bank to the auditor in order to mislead the listener and create a poor perception of the existence of these cash balances or the holding accounts for the benefit of the companies of the group Wirecard. The Wirecard management board is working intensively with the auditor to clarify the situation “, said the company.


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