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Malvin Tan WP

Posted on 05 Jul 2020

Is wirecard's situation due to a fraud or a fundamentally flawed business model?

Please enlighten me if you've looked into their financials, and will they ever be able to financially come back from the -$2b hit.

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2 answers

Discussion (2)

R

RT1976

Level 3. Freshie

Posted on 18 Jul 2020

For me, it is simple - Fraud.

https://markets.businessinsider.com/news/stocks/wirecard-second-executive-arrested-relation-billion-scandal-accounting-cardsystems-germany-2020-7-1029370033

Which company can have several billions that's unaccounted for?

Whether can turn around or not is a different issue. In this kind of business environment, it is anyone's guess.

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Firstly i don't understand their business model

Secondly even if the business model is sound, can people replicate it

Thirdly it has defaulted on the debt

So for the above reasons i am out

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