Days in Operation:
100 pts each
About $2.13 billion worth of cash is missing from one of Wirecard's trust accounts, and the crypto debit card provider cannot as yet account for the money. In a statement, the crypto debit card provider blamed "spurious" cash balances provided by a third party with the aim of deceiving the auditor, which discovered the scandal during a routine audit. Wirecard said it is investigating the matter in close cooperation with the auditor. The amount missing equals 25% of the funds on the company's balance sheet. Auditor EY refuses to sign off Wirecard’s 2019 accounts as it was unable to confirm the existence of 1.9 billion euros ($2.3 billion) in cash balances on trust accounts. Wirecard says that 1.9 billion euros it booked in its accounts likely never existed. Wirecard files for insolvency, owing creditors almost $4 billion after disclosing a gaping hole in its books.
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