(Bloomberg) -- Wirecard suffered the worst stock slump in the history of Germany’s benchmark index after revealing that about 1.9 billion euros ($2.1 billion) in cash had have gone missing, spooking investors who have endured years of allegations of wrongdoing at the payments company. The revelations cast doubt on Wirecard’s leadership and actual survival. Chief Executive Officer Markus Braun, who is the company’s biggest shareholder, has been at the helm since 2002, building the company from a start-up into a payment provider whose technology facilitates transactions around the world.Ernst & Young was unable to confirm the location of the cash in certain trust accounts, and there was evidence that “spurious balance confirmations” had been provided, Wirecard said in a statement on Thursday. That’s about a quarter of the consolidated balance sheet total, Wirecard said.“We are stunned,” said Ingo Speich, a fund manager at Deka Investments, a top 10 shareholder at the...
