Battered German fintech company Wirecard AG has filed for insolvency proceedings, days after revealing that more than $2 billion in cash missing from its balance sheet probably didnt exist.
The move is the latest in a startlingly swift unwind for a company that until recently was a shining star in Europes tech scene. Wirecard is the first insolvent company in the DAX 30, Germanys premier stock-market index.
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Read the full article at: https://www.wsj.com/articles/wirecard-files-for-insolvency-after-revealing-accounting-hole-11593075223
