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Wirecard Goes Bust as Scandal Puts Focus on German Oversight

sfgate.com

FRANKFURT, Germany (AP) — An accounting scandal at one of Germany’s fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country’s ability to oversee its corporate titans. Some 1.9 billion euros ($2.1 billion) vanished from payment systems provider Wirecard, until recently heralded as Germany’s emerging giant of the financial tech sector...

Mentions: bankruptcy Fraud Bank