Wirecard Suspends Top Executive After $2.1 Billion Goes Missing

Wirecard’s $2.1 Billion Hole Deepens After Forgery Claim

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By Steven Arons

June 18, 2020 at 4:58 PM UTC

This article is for subscribers only.

Wirecard AG suspended management board member Jan Marsalek “on a revocable basis” after the company revealed that about 1.9 billion euros ($2.1 billion) in cash has gone missing.

The company also appointed James Freis to the management board with immediate effect. He was previously scheduled to assume his role as head of integrity, legal and compliance on July 1.