Scandal-hit payments firm Wirecard has said the €1.9bn (£1.7bn) missing from its accounts simply may not exist.
Wirecard’s chief executive quit on Friday as the search for the missing cash hit a dead end in the Philippines.
On Sunday the central bank of Philippines said none of the money appears to have entered the country’s financial system.
The German company also said it was withdrawing its financial results for 2019 and the first quarter of 2020.
“The Management Board of Wirecard assesses on the basis of further examination that there is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist,” the company said in a statement on Monday.
It’s the cumulative gap between what they’ve been reporting as profits/income and what they’re really been making as income/profits. You know, mebbe?