Wirecard Shares Plunge 60% As Auditors ‘Unable To Verify’ $2 Billion In Cash On Its Books
As we’ve previously noted, German regulators have bent over backwards to accommodate Wirecard, even going so far as to discourage short sellers from targeting the stock, and launching an investigation into an FT reporter who published the first allegations about fraud within the fast-growing digital payments company.
Comment: Insiders always have deep broad advance knowledge. Wirecard appears to have some combination of internal issues AND be under attack. The plunging prices are covering the shorts. NSA has all the data but is not doing “trade intelligence” or white collar crime counterintelligence.
