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The Wirecard scandal serves as a well timed warning for regulators which have eased their guidelines to nurture startups into the following billion-dollar unicorn. Buyers must be additional vigilant too.
On Thursday, the digital-payments firm began chapter procedures as a consequence of “impending insolvency and over-indebtedness.” German officers are below hearth for failing to analyze—and even pushing again towards—accusations that one thing was fishy in its accounts. Regulators appear to have been extra cheerleaders for the previous market darling…
