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Wirecard Loses US$8.3 Billion in Three Days on Fraud Allegations

Thread starter Morgaan
Start date Feb 9, 2019

Morgaan

Alfrescian

Loyal

Feb 9, 2019

Wirecard AG fell the most in more than a decade on Friday after a report that a law firm found evidence of alleged forgery, the latest fraud allegations to beset the digital payments company. The 25 percent plunge -- the worst since July 2008 -- capped a tumultuous three days that shaved about 7.2 billion euros ($8.3 billion) off the company’s market value, despite repeated denials of wrongdoing.

https://www.bloomberg.com/news

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