Wirecard's Statement Dropped its Shares!

Wirecard's Statement Dropped its Shares! Shares fell 60 percent after the company announced that 1.9 billion euros were lost. This amount corresponds to a quarter of the company's balance sheet. German payment company Wirecard has announced that over 1.9 billion euros have been lost on its balance sheet. After the announcement in question, its shares fell by 60 percent. The announcement regarding the aforementioned loss was made by the company EY, which audits Wirecard. EY auditors were unable to confirm the existence of this money on the company's balance sheet. This money corresponds to a quarter of the company's assets. Wirecard pointed out that there are “artificial numbers aiming to mislead the auditors”.

The Value of the Company Decreased to 4 Billion Euros

The company value of Wirecard, which managed to enter the Dax 30 index of Germany two years ago, decreased from 24 billion Euros to 4 billion Euros after the announcements. The first news about the last incident was published in the Financial Times last year, and it was stated that the accounts of Wirecard's Asian operations did not reflect the truth. EY auditors were unable to confirm this money, although the company claims that the money in question is "for risk management" at two Asian banks. Wirecard, a company operating in Turkey.