Wirecard Auditors Say ‘Elaborate’ Fraud Led to Missing Billions

Wirecard Auditors Say ‘Elaborate’ Fraud Led to Missing Billions
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  • Ernst & Young says was provided false statements in its audit
  • Investors take aim at EY after Wirecard declared insolvency

Wirecard AG’s long-time auditors, Ernst & Young, accused their client of “an elaborate and sophisticated fraud” that allowed more than $2 billion to go missing.

Now that Wirecard has filed for court protection from creditors, the accountants who signed off on the fintech firm’s books for a decade are rejecting responsibility for their role in the debacle and preparing for the inevitable avalanche of lawsuits.

Source: Bloomberg

 

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