Wirecard

Jean Jinghan Chen ()
Additional contact information
Jean Jinghan Chen: University of Macao

Chapter Chapter 5 in International Cases of Corporate Governance, 2022, pp 67-82 from Springer

Abstract: Abstract Wirecard AG is a German financial technology (FinTech) giant that provides electronic payment processing services and operates internationally. As Europe’s largest FinTech company, it is regarded as the European version of Alipay. On 25 June 2020, Wirecard filed for insolvency after revealing that €1.9 billion in cash was missing from its balance sheet. This followed more than a decade’s worth of lies and systematic fraud, which finally caught up with the company’s senior management in 2020. Wirecard’s chief executive officer (CEO) Markus Braun announced his resignation on 19 June and was arrested on 23 June on suspicion of false accounting and market manipulation. The company’s chief operating officer (COO), Jan Marsalek, was sacked on 22 June and then disappeared in late June. He remains a fugitive wanted by the German police.

Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-3238-0_5

Ordering information: This item can be ordered from
http://www.springer.com/9789811932380

DOI: 10.1007/978-981-19-3238-0_5

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().