On 23 June, various media reported that Wirecard’s fall from grace prompted calls for an overhaul of Germany’s system of corporate oversight. The scandal involves Wirecard’s admission that €1.9 billion euros booked in its accounts was likely never to have existed. It is reported that Markus Braun, the architect of Wirecard’s push to make it one of Germany’s largest tech companies, has been on suspicion of presenting false information, inflating the digital payment company’s balance sheet and sales through fake transactions, suspicion of false accounting and market manipulation. He was accused of doing this to make the company look more attractive to investors and customers.
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