German payments company Wirecard files for insolvency after revealing $2 billion accounting black hole

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Wirecard will file for an application to open insolvency proceedings with the district court of Munich, the company said Thursday.

An illuminated logo sits on the exterior of Wirecard's headquarters in the Aschheim district of Munich, Germany.will file for an application to open insolvency proceedings with the district court of Munich, the company said Thursday.

 

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When $2 billion goes missing from a balance sheet, why is it that it’s never the debt that can’t be located?

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