(Bloomberg) — Wirecard AG delayed the publication of its annual financial results for the fourth time after auditors were unable to find about 1.9 billion euros ($2.1 billion) in cash, causing analysts to question liquidity at the German payments firm. The shares collapsed.Ernst & Young was unable to confirm the location of the cash balances in certain trust accounts, and there was evidence that “spurious balance confirmations” had been provided, Wirecard said in a statement on Thursday. That’s about a quarter of the consolidated balance sheet total, Wirecard said.“It is currently unclear whether fraudulent transactions to the detriment of Wirecard …read more
Source:: Yahoo Finance
