Wirecard

Founded in 1999, Wirecard AG was a German technology and financial services company that positioned itself as a global leader in digital payments. It provided payment processing, card issuing, and risk management services to tens of thousands of corporate clients worldwide. The company rose to prominence, becoming a member of Germany's prestigious DAX stock index. However, in June 2020, Wirecard collapsed spectacularly after admitting that €1.9 billion in cash, supposedly held in trustee accounts, likely did not exist. This led to the company filing for insolvency, the arrest of its top executives, and one of Germany's largest-ever corporate fraud scandals.