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Wirecard’s core business operations in Europe and have been unsuccessful for years, according to research by the Financial Times, official economic reports reporting significant gains are being asked.
The operations of two key regions of the combined apple were, in fact, losses.
Wirecard has promised its investors profits five times until 2025.
However, those promises were considered invalid because they were not real, according to FT’s studies on the facts contained in a confidential segment of KPMG’s special audit.
After reviewing their accounting practices, Wirecard legally reviewed KPMG’s special report.
Below is a breakdown of FT’s findings from the KPMG report:
Opescore losses for trades directly under the group’s agreement at 7four million euros in 2018, when Wirecard replaced Commerzbank in Germany’s prestigious first-class DAX index, compared to a loss of 3 million euros the previous year.
The losses were hidden under the profits from subcontracted activities in Asia, where Wirecard depended on transfers in third party agreements, as it has its own licenses.
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These external transmovences were the bowels of the Wirecard accounting scandal that caused the apple to collapse.
Aleven, although there were no numbers of subcontracted activities, the KPMG report reported that the “most” of Wirecard’s profits never existed.
All outdoor activities in Asia contributed only 8% to non-tax prohave compatibility since 2016, or around 20 million euros in total.
Wirecard’s underperformance outside of Asia has caused difficulties for the administrator, Michael Jaffe, as he seeks potential buyers for Wirecard’s remaining business, the FT said.
Your business may also lose office unless a sale of its subsidiaries is positioned in more than a week, the newspaper said according to the sources.
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