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Philippines Investigating Wirecard, Missing $2 Billion

Video Credit: Wochit News - Duration: 00:33s - Published
Philippines Investigating Wirecard, Missing $2 Billion

Philippines Investigating Wirecard, Missing $2 Billion

Peter Kneffel/picture alliance via Getty Images The Philippines is investigating local businesses that partnered the collapsed German payments company Wirecard, the Financial Times reported.

Wirecard went into administration and its former CEO Markus Braun was arrested after the firm claimed that more than $2 billion had disappeared from its balance sheet.

Its auditor EY said the firm committed elaborate fraud.


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CEO of embattled Wirecard quits [Video]

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The chief executive of Wirecard resigned on Friday after the search for $2.1 billion of cash missing from the embattled electronic payments firm hit a dead end in the Philippines. Ciara Lee reports

Credit: Reuters Studio     Duration: 01:26Published