WireCard!!

[reddevil0728]

Hertz and Wirecard bankruptcy is different. Hertz was bankrupt because its operations was affected by the virus but its business was legit. They have a chance to turn it around.

Wirecard is just one big fraud. The money never even existed in the first place. It was a scam to begin with.

Luckin Coffee too

 

[WC32890]

Luckin Coffee too

But you kinda expect that from Chinese companies, right? Everytime you buy a chinese stock at the back of your mind you need to factor that risk in. I mean they do have a track record of such things. But Wirecard is not a chinese company.

 

[reddevil0728]

But you kinda expect that from Chinese companies, right? Everytime you buy a chinese stock at the back of your mind you need to factor that risk in. I mean they do have a track record of such things. But Wirecard is not a chinese company.

it's a gamble, regardless.

 

[BBCWatcher]

Wirecard's prepaid U.K. cardholders' funds are now frozen. That's ostensibly to protect cardholders' deposits, but it's obviously frustrating for them.

Examples of Wirecard-issued/-administered prepaid cards issued in Singapore include the MCO Visa and RHB TravelFX.

 

[chopra]

They already filed for bankruptcy leh. Next will get delisted. Your shares will be worthless leh

yes. it's money that can b departed. one restaurant bill in euros. lol

 

[Laofuzi67]

Wirecard is in sg? But afaik they only partner with banks such as RHB.....any truth? So no frozen monies issues?

 

[i.Singaporean]

Sometime back it was reported that this company was being investigated for irregularities... Singapore office involved. Once a company gets investigated, it should be a big red flag.

 

[chewenhua]

Wirecard's prepaid U.K. cardholders' funds are now frozen. That's ostensibly to protect cardholders' deposits, but it's obviously frustrating for them.

Examples of Wirecard-issued/-administered prepaid cards issued in Singapore include the MCO Visa and RHB TravelFX.

moi Payoneer card is frozen nao issued under UK bank, linked that card to Amazon and Netflix subscriptions

 

[coolhead]

Wirecard is in sg? But afaik they only partner with banks such as RHB.....any truth? So no frozen monies issues?

German payments firm Wirecard's entities in Singapore are required to keep customer funds from their activities in banks here pending their application for a licence, said the Monetary Authority of Singapore (MAS) on Tuesday (June 23).

Posted from PCWX using Redmi K20 Pro

 

[BBCWatcher]

German payments firm Wirecard's entities in Singapore are required to keep customer funds from their activities in banks here pending their application for a licence, said the Monetary Authority of Singapore (MAS) on Tuesday (June 23).

That’s nice, but I’d point out that regulators previously told Wirecard to (for example) keep honest accounting. Unfortunately companies sometimes violate regulators’ requests.

Said another way, if I were holding a Wirecard-related prepaid card with a balance...well, it wouldn’t have a balance now. I would have already spent it down to zero. That’s only how I’d be acting. Maybe you would do something different.

 

[coolhead]

That*********s nice, but I*********d point out that regulators previously told Wirecard to (for example) keep honest accounting. Unfortunately companies sometimes violate regulators********* requests.

Said another way, if I were holding a Wirecard-related prepaid card with a balance...well, it wouldn*********t have a balance now. I would have already spent it down to zero. That*********s only how I*********d be acting. Maybe you would do something different.

I won't be able to comment much unfortunately.

Posted from PCWX using Redmi K20 Pro

 

[3dfxplayer]

Hertz and Wirecard bankruptcy is different. Hertz was bankrupt because its operations was affected by the virus but its business was legit. They have a chance to turn it around.

Wirecard is just one big fraud. The money never even existed in the first place. It was a scam to begin with.

Its the same. Hertz bonds are trading at 25c on the dollar, the equity is worthless post restructuring.

 

[InterestingStuff]

Luckin Coffee too

luckin not yet bankrupt
gic not yet sell

 

[livingcharsiew]

how wirecard expand their business, acquire companies, pay rents, pay loans, pay bond holders pay salaries if they don't make money?

 

[InterestingStuff]

how wirecard expand their business, acquire companies, pay rents, pay loans, pay bond holders pay salaries if they don't make money?

issuing more bonds , VC money etc
until it doesnt work

 

[BBCWatcher]

Wirecard is still processing merchants’ payments in Singapore as of June 27, 2020, for what it’s worth.

 

[m@maboi]

how wirecard expand their business, acquire companies, pay rents, pay loans, pay bond holders pay salaries if they don't make money?

By not using their money.

They hired quite a number of people in sg. Most are already preparing for the worst.

 

[xtwis7]

Was at genki sushi and so happened to see a wirecard POS terminal.

Sorry for the OT but just thought that was a timely sight.

 

[battledome64]

Wirecard is still processing merchants’ payments in Singapore as of June 27, 2020, for what it’s worth.

Nope I have bought online they deducted the money from the credit card but didn’t process my order..

 

[RedsYWNA]

Those working in SG EY office should be trying their best to siam. Some junior SG EY staff will be made the scapegoat.

https://news.bloombergtax.com/finan...card-scandal-is-another-reputational-headache

Main defence will be that this is a sophisticated fraud, and EY SG will have insurance coverage too.

I cant believe EY didnt send bank confirmations though given the size of the bank balance, if so, maybe they can rely on the sophisticated fraud defense.