
Wirecard’s $2.1B Hole Deepens After Forgery Claim - ckastner
https://www.bloomberg.com/news/articles/2020-06-19/bdo-unibank-says-it-s-one-of-banks-involved-in-wirecard-probe
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ckastner
> _Wirecard AG shares continued their free-fall after the two Asian banks that
> were supposed to be holding 1.9 billion euros ($2.1 billion) of missing cash
> denied any business relationship with the German payments company._

For reference, their balance sheet lists assets of about 6 billion euros.

Now, if their auditor EY were refusing to sign off on some crazy valuations of
some weird positions, I'd perhaps understand, but if other banks are outright
denying not just a cash balance but an _actual business relationship_ , I
don't see a way how this can be walked back.

SoftBank _really_ knows how to pick them. It invested 1 billion about a year
ago [1].

[1]
[https://www.bloomberg.com/news/articles/2019-04-23/softbank-...](https://www.bloomberg.com/news/articles/2019-04-23/softbank-
is-said-to-consider-acquiring-5-stake-in-wirecard)

