Big Short: Fintech Fraud Wirecard Explained (EY Accounting Scandal)
Channel: AmplifyME
Date: 2020-06-27

Eddie Donmez takes a look at the German Payment processing Fintech- Wirecard. He dives into the 15-year long accounting fraud that saw €1.9bn go missing and draws parallels to previous scandals like Lehman Brothers and Enron. Are there more FinTechs out there that have grown too quickly and let there standard slip?

In this session Eddie covers the following:

- Introduction: Who are Wirecard? (0:00) 
- Lehman’s Brothers and Enron (2:25)
- Timeline of events (04:20)
- Shorts made a killing $2.6bn (05:37)
- EY Sued (06:30)
- CEO Arrested & Insolvency (07:39)
- Rating Agencies didn’t spot it either (10:00) 

Like and Subscribe for more daily market analysis and reaction. Find out more about Amplify Trading: https://www.amplifytrading.com/students


Social Media handles: 

►Twitter: @amplifytrading @eddiedonmez

►Instagram: @amplify_edd