SEC Awards Almost $700,000 to Whistleblower

SEC

The Securities and Exchange Commission today announced an award of almost $700,000 to a whistleblower whose significant information helped the agency bring a successful enforcement action that resulted in the return of money to harmed investors. read more »

Wirecard says it cannot rule out 'fraud of considerable proportions'

REUTERS

German payments company Wirecard AG said on Friday it may be the victim of “fraud of considerable proportions”, after its auditor refused to sign off its 2019 accounts over a missing $2.1 billion.

Wirecard shares dropped by about 60% on Thursday as the company said the delay could cause billions in loans to be called in as soon as Friday. 

Auditor EY was unable to confirm the existence of 1.9 billion euros ($2.1 billion) in cash balances on trust accounts, representing about a quarter of Wirecard’s balance sheet, the payments company said on Thursday. read more »

Boeing whistleblower alleges systemic problems with 737 MAX

SEATTLE TIMES

A Boeing engineer who last year lodged an internal ethics complaint alleging serious shortcomings in development of the 737 MAX has written to a U.S. Senate committee asserting that systemic problems with the jet’s design “must be fixed before the 737 MAX is allowed to return to service.” read more »