Hedge funds were right to short-sell Wirecard, says industry body

Jun 30, 2020 · Hedge funds were right to target Wirecard after "forensic analysis" showed there was something amiss since 2014 at the now collapsed German payments company, industry …

$2
OFF

Short Sellers Made $2.6 Billion Off Wirecard's Plunge, But Not

2 weeks from now

Jun 20, 2020 · Bets by the eight funds with the biggest short exposure to Wirecard, including in options markets, delivered paper profits of $1 billion according to Breakout Point, a research …

advfn.com

€1
OFF

Wirecard Files For Insolvency A Week After €1.9bn Went Missing

2 weeks from now

Jun 25, 2020 · The company has become the first member of Germany's prestigious DAX stock index to go bust - owing billions to creditors. Thursday 25 June 2020 14:10, UK Image: …

sky.com

$45
OFF

New Jersey's Billionaires: Meet The Six Richest Men In The State

2 weeks from now

Oct 26, 2017 · Overdeck, 47, made his billions in founding hedge fund Two Sigma Investments, which manages $45 billion dollars. The man himself is worth $4.8 billion and is ranked number …

northjersey.com

FAQs about Hedge funds were right to short-sell Wirecard, says industry body Coupon?

What happened to Wirecard?

The implosion of Wirecard, a German online payments company, vindicated the efforts of a small band of hedge funds who had been investigating it for years — but also showed how difficult it is to make money short-selling. ...

Why did BaFin impose a short selling ban on Wirecard?

Fearing a so-called “short attack” on Wirecard, BaFin then issued its now infamous short selling ban, which appeared to suggest Wirecard’s biggest problem was the speculators betting on its falling share price rather than the allegations of fraud swirling round the company. But the blackmail story was a fiction. ...

Why did Wirecard go bankrupt?

Subsequent investigations revealed a massive accounting fraud that had been going on for years. Subsequently, the company filed for bankruptcy. Multiple Wirecard executives, including its CEO, were charged with fraud and market manipulation. German regulators and auditors were criticized for failing to detect and prevent the fraud. ...

Does giant Wirecard pay a $2 billion audit deception?

Payments Giant Wirecard's Shares Plunge on $2 Billion Audit Deception. Auditors fail to find sufficient evidence on cash balances. Austin, Texas - BioLife Plasma Services uses Wirecard to compensate Donors. ...

Who was a Wirecard adviser?

Another adviser lavishly paid by Wirecard for his services was the former German defence minister Karl-Theodor zu Guttenberg. He asked Merkel in September 2019 to intercede for Wirecard over an acquisition it was making in China. The chancellor duly raised the issue on her official trip to China a few days later. ...

Will BioLife Plasma Services notify donors about Wirecard problems?

BioLife Plasma Services has indicated that they have no plans to inform their Donors regarding the troubles of Wirecard nor do they have plans to change payment services to protect Donors compensation. ...