(ANSA-AFP) - FRANKFURT AM MAIN, 22 GIU - In what could be one
of the biggest financial frauds of recent years, shooting-star
German payments provider Wirecard on Monday admitted 1.9 billion
euros that auditors say are missing from its accounts likely "do
not exist". The scandal has already claimed the scalp of founder
and chief executive Markus Braun, and adds to a series of recent
German upsets. Over the past decade, business headlines have
been dominated by the crippling consequences of repeated
financial infractions at Deutsche Bank and the globe-spanning
"dieselgate" emissions fraud that has cost carmaker Volkswagen
more than 30 billion euros. In Wirecard's case, the 1.9 billion
euros ($2.1 billion) that were supposed to be sitting in trust
accounts in the Philippines make up a quarter of the company's
balance sheet. But "on the basis of further examination... there
is a prevailing likelihood that the bank trust account balances
in the amount of 1.9 billion EUR do not exist," Wirecard said
Monday. (ANSA-AFP).
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