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Contradicted

A reliable and applicable record states the opposite.

Wirecard said on 22 April 2020 that the KPMG special review had found no evidence for the public allegations of balance sheet manipulation.

No evidence was found for the publicly raised allegations of balance sheet manipulation.
About
Wirecard AG
Claim made by
Wirecard AG, company statement
Published
22 April 2020
Original
Wirecard AG: KPMG special review lasts until April 27 2020. Analysis so far provides no evidence of balance sheet manipulation
Evidence score
84 How it was scored
Last reviewed
25 October 2026

Why this label

The company statement of 22 April 2020 said no evidence of balance sheet manipulation had been foundS2. Wirecard's own announcement of the KPMG report on 28 April 2020 said data needed to prove revenues in the Third Party Acquiring business could not be obtainedS3. On 22 June 2020 the board said there was a prevailing likelihood that EUR 1.9 billion in trust account balances, reported as an asset, did not existS1. Three days later it applied for insolvencyS4. The company's own later admission states the opposite of the reassurance it gave in April, so the label is Contradicted. The record does not show who caused the gap. That question is before the Munich courtS6.

Current procedural position

Company admission of 22 June 2020S1. Insolvency application filed 25 June 2020S4. Criminal trial of former managers ongoing, verdict pending as of 8 October 2026S6.

Record supporting the assessment

prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist
S1 Tier B Wirecard AG, Wirecard AG: Statement of the Management Board about the current situation of the Company, 22 June 2020
not all data could be obtained that would have been required to proof the revenues in these years
S3 Tier B Wirecard AG, Wirecard AG: KPMG delivers report on special investigation, 28 April 2020

Conflicting or limiting record

No evidence was found for the publicly raised allegations of balance sheet manipulation.
S2 Tier B Wirecard AG, Wirecard AG: KPMG special review lasts until April 27 2020. Analysis so far provides no evidence of balance sheet manipulation, 22 April 2020
Incriminating evidence for the public allegations of balance sheet forgery has not been identified.
S3 Tier B Wirecard AG, Wirecard AG: KPMG delivers report on special investigation, 28 April 2020

Evidence score: 84 of 100

The score grades how well the record establishes this assessment. It is not a score of Wirecard AG. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?2430The company's own board statement is a competent admission against its earlier position.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1820The June statement directly addresses the balances behind the earlier reassurance.
CorroborationDo independent records support the same material point?1215The KPMG report announcement and the insolvency filing agree with the admission.
Procedural accuracyDoes the record settle the procedural state the claim describes?1115The admission is final as a company statement but criminal responsibility is still being tried.
CurrencyHas the record been checked against later developments?910Checked against developments up to 8 October 2026.
ReproducibilityCan a reader locate the passage and repeat the assessment?1010All passages sit on Wirecard's archived investor pages.
Total84100

Timeline

  1. Wirecard says KPMG found no evidence of manipulation so farS2.
  2. Wirecard announces KPMG report and data gapsS3.
  3. Board says EUR 1.9 billion likely does not existS1.
  4. Insolvency application filedS4.

Related cases

  • Public prosecutor v. former Wirecard managersLandgericht München I (Munich Regional Court I). Criminal. Not published.Stage: Main hearing ongoing, evidence phase closing, verdict pending as of 8 October 2026
    • Court rejected defence request to suspend the trialS6.
  • Wirecard AGAmtsgericht München (Munich District Court). Insolvency. Not published.Stage: Application filed for insolvency due to impending insolvency and over-indebtedness
    • Management board decides to file the insolvency applicationS4.

Responses

  • Wirecard AG, 28 April 2020: Wirecard said the required data were mainly controlled by third parties and that later checks of revenue records found no deviations.S3

Revision history

  • Assessment first published with label Contradicted.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S1Tier B Wirecard AG: Statement of the Management Board about the current situation of the CompanyWirecard AG. Company statement. 22 June 2020.Company admission that EUR 1.9 billion in trust balances likely did not exist and that earlier business descriptions were incorrect. It does not assign individual responsibility.Link working, checked 25 October 2026
  2. S3Tier B Wirecard AG: KPMG delivers report on special investigationWirecard AG. Company statement. 28 April 2020.Company summary of the KPMG report, including data gaps on Third Party Acquiring revenues. The full KPMG report was not read.Link working, checked 25 October 2026
  3. S2Tier B Wirecard AG: KPMG special review lasts until April 27 2020. Analysis so far provides no evidence of balance sheet manipulationWirecard AG. Company statement. 22 April 2020.Company account of interim KPMG findings. It records the reassurance later contradicted. It is not KPMG's own wording.Link working, checked 25 October 2026
  4. S4Tier B ad hoc 2020Wirecard AG. Company statement. 25 June 2020.Listing of 2020 ad hoc notices with the text of the 25 June 2020 insolvency application notice. It does not show later court decisions in the insolvency.Link working, checked 25 October 2026
  5. S6Tier C Wirecard: Verteidigung blitzt mit Aussetzung abdpa (published by t-online). Press report. 8 October 2026.Reports the trial stage, the EUR 3 billion damage figure from prosecutors and the denial. It does not set out the indictment.Link working, checked 25 October 2026

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