Wirecard Auditors Say ‘Elaborate’ Fraud Led to Missing Billions
- Ernst & Young says was provided false statements in its audit
- Investors take aim at EY after Wirecard declared insolvency
The Wirecard AG headquarters in Munich, on June 25.
Photographer: Andreas Gebert/BloombergThis article is for subscribers only.
Wirecard AG’s long-time auditors, Ernst & Young, accused their client of “an elaborate and sophisticated fraud” that allowed more than $2 billion to go missing.
Now that Wirecard has filed for court protection from creditors, the accountants who signed off on the fintech firm’s books for a decade are rejecting responsibility for their role in the debacle and preparing for the inevitable avalanche of lawsuits.