The house of cards has well and truly collapsed for Wirecard, the German payments company that has been accused of accounting fraud. Today it announced that its German operation Wirecard AG was applying for insolvency proceedings in a Munich court, the Amtsgericht München, due to “impending insolvency and over-indebtedness.” It also issued a separate statement that elaborated to … Continue reading Wirecard, the disgraced German payments firm backed by SoftBank, files for insolvency over €1.3B in loans coming due