Embattled financial technology firm Wirecard lost millions of euros even before the scandal that erupted in 2020, FT reported.
- During police investigations, former Wirecard employees said staff repeatedly took out large amounts of cash from the head office in Munich. The total amount of further details regarding such transactions have yet to be made clear.
- Six-digit amounts of banknotes were supposedly often taken out in Aldi and Lidl plastic bags, starting as early as 2012.
- One of the employees to have supposedly done this was an assistant to a senior manager in charge of a Dubai-based subsidiary. She reportedly brought the plastic bags to Munich’s airport and gave them to unknown individuals.
- Based on claims, an estimated €100 million could have been removed but bank records only indicate cash withdrawals of around €6 million.
- A former employee told police €200,000-€700,000 were removed frequently, at times even several times a week.
- Emails also indicated that some €500,000 in cash was even delivered at a time when the safe was full in May 2017, as the excess cash needed to be kept somewhere in the offices.
- A six-figure sum was also allegedly sent to Manila-based Christopher Bauer who was in charge of PayEasy, which made up hundreds of millions of euros of fake revenue for Wirecard. He was reported dead in August 2020.
WDI:Xetra dropped from 100 EUR per share before the scandal to 0.34 EUR today.