Wirecard and the missing €1.9bn: my story | FT

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This is journalism, investigative journalism of the highest quality. Good work FT!

souvikdeb
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The free press is the golden thread in our history, and hopefully our future, good work guys

jamesbarnes
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Well in a way Wirecard was taking this whole "cashless society" think waaay to serious ^^

toemoe
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Bafin and Ernst &Young should be held responsible.. both were sleeping, EY on wirecard's money and Bafin on tax payers money..

manangandhi
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I am a fellow German and I congratulate you for your great work. This is how journalism should be. Job well done mate

grimreaper
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Great Video! As a 22 year old german dude, I was so dumb to Listen to the BaFin and was owner of Some Wirecard stocks, that I bought three year ago. In my opinion itis absolutely amazing That the FT didn‘t stop its critical journalism! Next Time I Listen to your words. Love from Germany

jstlft
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I wish I had listened to him, then I would not have lost thousands of Euros with Wirecard.

SvenPiper
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Good journalism requires courage and perseverance. You showed it both, Dan. Thank you and keep on the work!

pshome
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What is truly damaging is that you can't rely on some auditors to have done the most basic check of verifying cash balances in accounts they are signing off for even massive listed companies. The auditing profession is clearly failing and needs the kind of reforms that it is incapable of providing itself.
Thank goodness we have a free press and the internet to hold people to account.

robertstorey
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The FT is a damn fine newspaper and McCrum is one of its assets.

-Eckhart
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I must say that I didn't believed it on myself... costly. But it was so out of thinkable for me that something to this scale could happen .... Thumbs up FT

maddwarf
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This kind of journalist and journalism should not only lauded but also handsomly compensated.
At the end of the day money matters..you can't eat ethics and principles.

manikkalore
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Daniel, whatever FT is paying you, it’s not enough. You’ve done incredible work

cvhashim
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I wonder who will play Dan in the Netflix movie

Fedora_JP
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Some heads should roll in the German administration, that thought investigating FT but not Wirecard was the way to go !

aesma
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wirecard : wolf of Wall Street, German style

slodo-the-show
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Great Work! And a good recap video. As a German I have to admit, that I thought and hoped you were wrong back then.

julianeclaudi
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I was invested in Wirecard until 18th June 9 am. After the opening of the stock exchange, I sold all shares because no figures were published. Up until the previous day of 18th of June, I assumed that there was hardly anything wrong with the allegations. This was mainly since there have already been numerous investigations, which, however, have never led to really stressful results. Likewise, I could hardly imagine that EY has made negligent test mistakes over the years. Just as an example: With such constellations (TPA = customer & supplier at the same time), a closer examination is usually normal. Likewise, the bank confirmations of the trust accounts should have been obtained every year. However, this has not been done and relied on fake balance confirmations.

After the opening of the stock exchange, I expected bad news because there was something wrong with the certificate, but I would not have expected that 1.9 billion would be reported as "missing".

In retrospect, I am primarily amazed by EY and BaFin. These should have looked much more critically into Wirecrds' books since the allegations were justified.

Anyway, I have to say that the work of the FT (especially you) was extremely good.

gotnoname
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Why don't we talk about the CFO at all?

bachibouzoul
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Dan, I owe you an apology too. I was so convinced by Wirecard, I never thought we'd be so scammed. You did your job well. Not only did you show that Wirecard scammed, you also showed how bad Germany is as a financial centre. A shame for BaFin and all the auditors and accountants who were involved!

chrisreal