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Welcome to Due Diligence, the FT’s daily deals briefing
Wirecard analysis is defamatory and wrong
German financial technology company rejects ‘misleading allegations’
FT Investigation: internal documents from the payments company point to a concerted effort to fraudulently inflate sales and profits
Follow along with Dan on a tour of the files which point to suspected fraud at a Dax 30 fintech.
Japanese conglomerate had agreed a Buffett-like investment in German group
Rating agency gives German fintech lowest possible investment grade classification
And this time, it’s our old friend Wirecard’s fault, apparently.
FTC alleged online payment provider Allied Wallet had role in scams and pyramid schemes
Company fails to explain why spreadsheet’s data should be disregarded
German payment group hit by whistleblowers’ claims over accounting
Group expects rise in key earnings metric with payment processing volume up 37%
German payments processor has battled allegations of fraud, forgery and opaque business links
Payments group agrees to improve processes as auditor signs off 2018 accounts
Japanese tech group is buying convertible bond that can be repaid in stock
Whistleblowers claim unit of German payments group was not audited
German payments company prepares to reveal annual results amid accounting scandal
BaFin targets two FT journalists and several short-sellers after reports hit payments group’s share price
And how could it when the cops are still investigating?
Wirecard compliance officer was no book cook.
Half of the German company’s revenues come from partners but at some there is a mismatch with the reality on the ground
In a Mifid II world it's important to clock stuff like this.
German fintech group’s shares surge after it says probe by lawyers found ‘no material impact’
German lender took almost half Markus Braun’s stake in payments group as collateral
Markus Braun posts Twitter video after reports that executives approved transactions at centre of criminal probe