Wirecard shares collapse

It doesn’t appear to exist. It’s called fraud.

You seem to want to blame everyone in the company for the actions of one or two. Life doesn’t work like that as you’ve already been told.

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actually its called lying as the put on the sheet they had so much money and they dont so its a lie u seem to wanna start on me as well don’t reply to my message simple as that

No, the forum doesn’t work like that either.

You don’t get to post what you want unchallenged. This is a conversation and when we’re wrong, people can and will tell us.

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well the CEO lied that’s a lie saying you have so much money and you don’t its fraud and a lie

So it wasn’t “they lied” it was the CEO lied. Probably a few others as well but not the entire company

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that’s what i mean they lied

Wow man up, Monzo aren’t on the end of the phone about a forum, just move on lad

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Call Monzo? The bank account has nothing to do with the forum. Unless there’s a forum phone number I’ve missed :eyes:

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no they can get in to contact with the person who checks the posts

Or you could just send him a message here

Although he checks the flags when he’s on the forum so I’m not sure why you’d bother messaging

Not offensive but they are very confrontational

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There’s an official Monzo presence now? I thought that stopped when SimonB left. I need to read more.

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If the CEO lied, as a public figure and representative of Wirecard, would it not then be fair to say that Wirecard lied?

Actions of individuals on behalf of a company, are In my view actions of the company. I’ve not delved too deeply into this Wirecard fiasco yet, so I guess depends on the circumstances.

With that said, I’m not going to mourn the loss of a shady company, but I feel for the Innocent employees this will now affect. Is this even relevant to the discussion of Revolut anyway? Perhaps all the Wirecard talk should be moved elsewhere.

Edit: looks like @Feathers already did this as I was typing out my post! :see_no_evil: Please move this comment too, it’s out of context here!

For something of this scale, it has be more than a few. Granted, there will be degrees of culpability from outright fraud down to incompetence and minor negligence.

Where was the mighty Bafin?! Talk about egg on your face.

Egg on their face … more like a catastrophic failure of a financial supervisory authority.

The FT newspaper reported problems with Wirecard in January and instead of investigating Wirecard, BaFin pulled their wagons around Wirecard and protected them from the accusations and tried criminalise the journalist involved.

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Indeed

As I recall, BaFin accused the journalists - on more than one occasion - of insider trading and fraud. Looks like Wirecard had some influential people at its beck and call.

Just received an email from FairFX - cards & accounts are now unusable because of Wirecard activities.

Customers won’t get access to the frozen funds until the FCA unfreezes them.

This is big.

When you’ve got that kind of money influential people tend to do what you say… it’s just the way things are.

Clearly a few people were involved in the fraud - anyone looking at the accounts should have been able to see a discrepancy of a couple of billion. Now we’ve got the CEO and COO in the frame (the latter having run off to possibly the phillipines but we’re not even sure of that) but they won’t be the only ones. The auditors failed massively (didn’t actually check the accounts for 3 years apparently). Bafin failed. It’s going to take quite an investigation to separate the fraud from the incompetence that allowed the fraud to succeed.

New laws will come from this, I expect.

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this is what you get when company’s want to do stuff like this