Bankruptcy administrators for Wirecard AG, the scandal-hit German payments company, have begun the process of selling some of its businesses, as they try to stabilize its operations and raise money to pay off its heavy debt burden. Wirecard is under investigation in Germany and Singapore after it revealed $2 billion of cash had gone missing and its former chief executive, Markus Braun, was accused by prosecutors of falsely inflating the company’s sales with fake income.

Source: Wall Street Journal July 01, 2020 14:53 UTC