Wirecard fintech biz folds into insolvency like two pair against a flush. Good luck getting your stake back

Regulators freeze funds, stop affiliated finance apps from functioning

German electronic payment biz Wirecard AG has filed for bankruptcy, three days after the arrest of ex-CEO Markus Braun on fraud charges – and the company's admission that €1.9bn in assets ($2.1bn) were missing and may never have existed.…

via The Register - Data Centre: Networks
https://go.theregister.com/feed/www.theregister.com/2020/06/26/wirecard_insolvency_freeze/