Wirecard CEO Resigns, Says Missing €1.9B Could Be Fraud

Law360, London (June 19, 2020, 5:41 PM BST) -- The chief executive of Wirecard, whose auditors cannot find €1.9 billion in cash held in trust accounts, resigned on Friday after saying that he couldn't rule out that the German payments company has been the victim of "fraud of considerable proportions."

Wirecard CEO Markus Braun resigned Friday amid the German financial services company's accounting scandal. (AP Photo/Matthias Schrader) Wirecard AG, which offers payment services for banks and other financial institutions, said Thursday that it had delayed publication of its annual financial results for the fourth time after auditor Ernst & Young couldn't find the €1.9 billion ($2.1 billion) held at two Asian banks —...

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