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Wirecard shares plunge after new FT report alleging fintech company inflated sales

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FRANKFURT (AFP) - Shares in German payments processing firm Wirecard plunged on Tuesday (Oct 15) after the Financial Times published new documents alleging accounting irregularities.. Read more at straitstimes.com.

FRANKFURT - Shares in German payment processing firm Wirecard plunged on Tuesday after the Financial Times published new documents alleging accounting irregularities.

But the financial broadsheet published on Tuesday internal communications and financial reports it alleged contained"strong indications" that hundreds of millions of euros of payments processed for some Wirecard clients"could not have taken place".

The same month Munich prosecutors said they were investigating a FT journalist over the reports, and in March Bafin filed charges against unnamed people over alleged market manipulation to undermine Wirecard's share price.

 

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