Wirecard AG Stock News

A German regulator has reportedly concluded that EY's audit work and quality control regarding the now-defunct payments firm Wirecard was marked by “grave” and “repeated” violations of profes

VIENNA (AP) — Austria faces its biggest espionage scandal in decades as the arrest of a former intelligence officer brings to light evidence of extensive Russian infiltration, lax official oversight

Accountancy firm EY is facing a new lawsuit claiming 1.5 billion euros ($1.66 billion) in damages over its role in auditing Wirecard's books before the German payments company collapsed in 2020.

Two former Wirecard executives have been sentenced to prison in Singapore.

The once celebrated German payments firm collapsed spectacularly in 2020 after it acknowledged around $2 billion of listed assets probably didn't exist.

Former Wirecard CEO Markus Braun was apparently not a big fan of compliance. During court testimony Wednesday (June 8), a panel of judges in Braun's fraud trial heard that the ex-chief executive told

Big-4 accounting firm EY has been banned from auditing companies of public interest in Germany for two years over its failures as the auditor of Wirecard in the years before the digital payments compa

BaFin Found "Not Liable" For Wirecard Investors By Frankfurt District Court A court has absolved German financial regulator BaFin from liability in the Wirecard fraud, according to a ruling this week by the Frankfurt District Court. The court ruled that BaFin performed its duties "exclusively in the public interest, not in the interest of individual investors," meaning they couldn''t be held liable by individual investors in Wirecard for their role in the company''s collapse, Bloomberg wrote in a Wednesday morning wrap up. The company''s deep ties to Chancellor Angela Merkel''s ruling coalition are only just beginning to be explored, we wrote last year . Recall, in early 2021, we noted that Olaf Scholz, Angela Merkel''s finance minister, sacked BaFin chief Felix Hufeld, the head of the financial watchdog, amid a torrent of criticism that Hufeld deliberately ignored warnings about fraud at Wirecard from myriad sources, choosing instead to angrily pursue both journalists and short-sellers (the agency sued two FT reporters while briefly prohibiting short-selling in the company''s shares).

"Are Toyota and VW undervalued or is Tesla overpriced?" Fraser Perring, the founder of investigative financial research group Viceroy Research, tweeted Wednesday.

DoJ Targets Hedge Funds With Investigation Into Short Selling As far as we can tell, cracking down on short sellers has typically been associated with authoritarian governments (like in China, which has arrested market selloffs by throwing shorts in to a "reeducation camp") as well as those trying to cover up their own aggressive malfeasance (like when German regulators chose to investigate and pursue short sellers and journalists instead of Wirecard, a former fintech darling that was eventually exposed as a massive fraud ). But now, the practice is coming to the US. Just as hedge funds are dumping shares to retail while corporate insiders sell shares back to their own companies, the DoJ is reportedly launching a broad-based probe into hedge-fund short selling, with prosecutors with the DoJ''s fraud group based in LA leading the charge into firms that collaborate with researchers to pull off "short and distort" plays that can quickly earn tens of millions of dollars in "alpha" for their LPs.

Former COO of Wirecard Jan Marsalek, one of Europe''s most wanted fugitives, is still the target of an international manhunt for his suspected role in a multi-billion euro fraud scheme. Read about the ongoing search for Marsalek and Europol''s 2021 "EU''s Most Wanted" campaign.

EY has reportedly submitted a criminal complaint over a newspapers publication of a classified report into its work for payments firm Wirecard.

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Wirecard AG (OTCMKTS:WRCDF) saw a significant decline in short interest in October. As of October 29th, there was short interest totalling 942,000 shares, a decline of 36.0% from the October 14th total of 1,471,800 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is currently days. OTCMKTS WRCDF opened at []