Wirecard
Wirecard was a German payment processing and financial services company that became infamous for its involvement in a massive accounting scandal. Once hailed as a technology champion, the company filed for insolvency in 2020 after it was revealed that €1.9 billion reportedly held in trust accounts likely did not exist. The scandal led to significant financial losses for investors, a global investigation, and raised questions about corporate governance and auditing practices in the financial sector.
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Wirecard is mentioned in the context of shareholders losing money due to incorrect financial statements.
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