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Jim Chanos & Bethany McLean on Lessons from Enron, Financial Fraud Throughout History, and the Fall of FTX, SVB & Wirecard | #479
The Meb Faber Show - Better Investing
The Wirecard Fraud
The company hired an auditor, a special auditor, a KPMG, to review all these allegations. The head of the Supervisory Board resigned a few months later. KPMG in April of 2020 said it couldn't get enough cooperation from the company itself regarding the special audit. And yet the company still traded for two more months, and about 100 euros per share,. before they themselves finally came out and said, oh yeah, there's missing money.
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