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

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