The Wirecard Scandal: Playing the Long Game

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Tanvi Godiwala is pursuing BA LLB from Symbiosis Law School. In her article she discusses about the massive German scam of €3.5 Billion by Wirecard company. The company which was founded in 1999, started as a secure online payment service with the majority of its clients services being gambling and adult content websites, collapsed on June 25th 2020. The scam is a series of accounting scandals, that it was found to have faked almost two-thirds of its sales records, meaning the revenue they generated was not nearly enough to repay the debt that Wirecard owes. She further denotes that Wirecard became the first and only DAX Index listed company to declare insolvency.

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