German shareholder association Schutzgemeinschaft der Kapitalanleger e. V. (SdK) filed on Friday criminal charges against auditors of Ernst & Young related to the Wirecard AG’s accounting scandal and the missing €1.9 billion. The SdK’s charges are based on the auditors’ failure to follow the basic procedures and check the Wirecard’s bank deposits in the period between 2016 and 2018. Despite that being “one of the easier tasks,” EY allegedly didn’t request the balance confirmations. Charges include two current and one former EY auditors. Wirecard AG’s long-time auditors, Ernst & Young, accused their client of “an elaborate and sophisticated fraud” that allowed more than $2 billion to go missing. Now that Wirecard has filed for court protection from creditors, the accountants who signed off on the fintech firm’s books for a decade are rejecting CIVIL NEVER MIND CRIMINAL responsibility for their role in the debacle and preparing for the inevitable avalanche of lawsuits. Nick Note: I know these hired gun whores. They will do any thing for a BIG fee. Its the 3 monkeys syndrome. See not Evil, Hear no Evil, Speak no Evil if the client pays enough. This was NOT NOT NOT a elaborate fraud. They simply showed deposits of 1.5 billion dollars in a dodgy Philippines (not exactly a global financial center) bank in a single non segregated account. Highly unusual! . Now any auditor worth a shit would question such a large deposit at such a sleazy bank in a sleazy country. You would have to question the purpose of such a large deposit in a single account at one poorly capitalized bank. Get this i am told by reliable sources all they did was send out a confirmation letter. Protocol would require a full blown audit of the bank holding such a larger sum. Bottom line they were all in on this fraud. Its worse in the US giant consumer and investment banks. When the lights come back on at the all night orgy you get to see who is fucking who!