Fintech Firm Wirecard Allegedly Stole Money Before Filing for Bankruptcy
Main page News, Fintech

The German fintech company Wirecard, which filed for bankruptcy in June, could have stolen money, the Financial Times has reported.

German prosecutors have reported the company allegedly sent about $1B to some partners.

According to investigations, this amount is allegedly loans granted to associate partners in Dubai, Singapore and the Philippines, which contradict the statements of former chief executive Markus Braun and other top former employees.

The publication report states:

"According to people familiar with the probe and a document seen by the Financial Times, the embezzlement is suspected to have taken the form of unsecured loans, which Wirecard claimed were for advance payments to merchants processing card transactions through its partners in Asia."

The German fintech firm filed for bankruptcy in June after the disappearance of $2B. Munich prosecutors believe Braun inflated the company's numbers in order to increase its attractiveness to investors.

If you are looking for a crypto trading platform to trade your assets, visit, a safe and reliable exchange.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error