Zicklin Professor Publishes Article on $2 Billion Fintech Fraud Scandal
July 16, 2020Gideon Pell, distinguished lecturer in information systems in the Paul H. Chook Department of Information Systems and Statistics, published an article in Forbes this month that examines the case of the alleged accounting fraud that led to the recent collapse of Wirecard, a German digital payments company.
As fintech industry followers know, Wirecard fell apart in June after $2 billion in its accounts was found to be nonexistent. But more importantly, why did investors, analysts, and regulators ignore numerous, years-long warning signs of accounting malpractice at the company? Pell has some thoughts.
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