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Browse: Home / 2021 / February / 08 / Wirecard Red Flags Should Have Prompted Earlier Response, Former Executive Says – WSJ

Wirecard Red Flags Should Have Prompted Earlier Response, Former Executive Says – WSJ

By Securities Docket on February 8, 2021, 10:03 am

Mr. Freis was due to join the German payments company’s management board on July 1, but he was called in early, on June 18, when Wirecard said it couldn’t verify $2 billion in assets. With Wirecard’s auditors refusing to sign off on the company’s financials, Mr. Freis was asked to assess the situation.

He reached a conclusion that he says others should have made much earlier: The highflying fintech company was ensnared in a massive fraud. “So many people could have and should have stepped up and said something,” Mr. Freis said in a recent interview with The Wall Street Journal—one of the few he has given since relinquishing his last remaining responsibilities with the company in December

Source: Wirecard Red Flags Should Have Prompted Earlier Response, Former Executive Says – WSJ

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