Payments company Wirecard files for insolvency, owes $4 billion to creditors

Payments company Wirecard files for insolvency, owes $4 billion to creditors

A logo of Wirecard is seen on a booth at the computer games fair Gamescom in Cologne, Germany, August 22, 2018. REUTERS/Wolfgang Rattay/Files

Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books that its auditor EY said was the result of a sophisticated global fraud.

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