German regulators are responding to Wirecard’s recent accounting scandals, and one of the first consequences is the removal of the company from Germany’s DAX index.
Wirecard went into insolvency after € 1.9 billion ($ 2.2 billion) disappeared from the balance sheet
Deutsche Boerse today stated:
From Aug. 21, a rule change will be implemented that allows to remove insolvent companies from the DAX with two trading days’ notice.
this rule change would apply to Wirecard, “given the current situation.”
Wirecard was included in the DAX index as early in 2018, when it replaced German lender Commerzbank.
Wirecard no longer wants to comment on the current situation.
Let us also recall our recent article where we wrote about that The most feared Mafia in Europe used Wirecard to launder money. In these case, Wirecard had made it possible to process payments for a Maltese casino that laundered money for Ndrangheta, the most dangerous criminal organization in Europe.
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