EY came close to discovering fraud at the heart of Wirecard in 2016, when the collapsed payments firm’s trustee in Singapore accidentally told the auditor the truth, stating he did not hold any money on its behalf.
Former Wirecard CEO Markus Braun (C) attends one of Germany's biggest fraud trials in decades, where he and two co-defendants face charges of forming a criminal gang, falsifying the group's balance sheets and cheating lenders out of €3.1 billion ($3.26 billion). Lukas Barth/dpaThe key prosecution wi.
The key prosecution witness in Germany's biggest post-war fraud trial admitted guilt on Monday in a scam that led to Wirecard's collapse, but said the company was a "swindle" from the start with former chief executive Markus Braun at its core. Wirecard's downfall two years ago shook the German business establishment, putting politicians who had backed it and regulators who took years to investigate allegations against the payments company under intense scrutiny.
The key prosecution witness in Germany s biggest post-war fraud trial admitted guilt on Monday in a scam that led to Wirecard s collapse, but said the company was a "swindle" from the start with