Former fintech darling Wirecard imploded in 2020, filing for insolvency after disclosing a €1.9 billion hole in its accounts.
Its collapse came after EY, its auditor for more than a decade, refused to sign off its 2019 accounts, forcing out chief executive Markus Braun and leading Wirecard to admit that €1.9 billion of its cash probably didn’t exist. It ended up owing creditors almost $4 billion.
Commerzbank has now filed a suit against EY in Frankfurt court, Reuters reports, with the bank’s complaint said to be one of a number against EY regarding Wirecard.
