Despite its spectacular descent into insolvency last month, Wirecard’s share price has not yet hit zero.
Last week, Munich prosecutors raided the offices of the German payments giant, widening the investigation into the company to include fraud. It follows an accounting scandal and the arrest of former CEO Markus Braun.
When it filed for insolvency on June 25, Wirecard owed almost $4 billion to creditors. It admitted that $2.1 billion was missing from its balance sheet and probably does not exist.
