'The money's gone': Wirecard collapses owing $4 billion

REUTERS

Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books in Germany’s worst accounting scandal.

The payments company filed for insolvency at a Munich court saying that with 1.3 billion euros ($1.5 billion) of loans due at the end of the month its survival as a going concern was “not assured”. read more »

How $2 billion vanished from the balance sheet of Wirecard

BUSINESS INSIDER

The German fintech group Wirecard saw its shares crash by over 80% over two days last week after its auditor, EY, said it could not trace €1.9 billion (about $2 billion) in cash, representing roughly a quarter of Wirecard's balance sheet. read more »

Regeneron Funneled Kickbacks Through a Patient Charity, Federal Lawsuit Claims

NEW YORK TIMES

The suit, filed in the U.S. District Court of Massachusetts in Boston, claims that Regeneron violated federal anti-kickback laws by using the patient-assistance fund to encourage doctors to prescribe their drug, Eylea, over a less-expensive competitor. read more »