"A complete disaster" . Felix Hufeld, president of the German Bafin and, as such, gendarme of the finance across the Rhine, was forced to this painful report Monday. Bafin is in reality humiliated by a scandal that it "could not prevent" : the fall of Wirecard. The financial company is virtually bankrupt. She lost track of some 1.9 billion euros, evaporated somewhere between her books of accounts and Indonesian banks who have never heard of it. Embezzlement or accounting manipulation? Who knows!
Read also: Wirecard, the fall of a nugget of financial services
The scandal is immense. Wirecard was a national pride across the Rhine. The company, only twenty years old, had already made a place for two years in the Dax 30, the equivalent of our CAC 40, that is to say in the club of the largest German listed companies. Little known to consumers, Wirecard, specialized in online payments in particular, is a "fintech", one of those technological companies that are shaking up the world.
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