The Wholistic View

| Photo: Wirecard Signage at one of its Office, Reuters | Wirecard AG, once a national pride of Germany and its answer to the giant US tech Companies has lost nearly 85 per cent of its market value and filed for insolvency being unable to pay off its debts just days after it was revealed that it had a $ 2 billion  hole in its balance sheet. The cash was supposed to be held at two Asian Banks, though Wirecard has admitted recently that the missing billions may not even exist. This scandal has shuddered its investors and its credit rating has been withdrawn by Moody's.  The Wholistic View encapsulates this sensational fraud which has been termed as one of the worst financial disasters in Europe since the financial crisis of 2008.  (7 Min Read). For the last year or so, Financial Times(FT) Journalist Dan McCrum has been constantly reporting that German Fintech Company Wirecard was faking some of its revenue. Wirecard, on the other hand, had been fighting back aggressiv...

| Image: A comedian threw stacks of money at Sepp Blatter during a meeting of FIFA’s executive committee in Zurich.Credit...Arnd Wiegmann/Reuters | In 2015, Swiss Police entered a five-star hotel in Zurich and arrested six people. These people were Office bearers of FIFA (Federation Internationale de Football Association) the governing body of World's most popular sport "Football" .Hours later, the Justice Department of New York, USA unleashed a barrage of allegations to the tune of 47 counts of Indictments against 14 people including FIFA bigwigs, sports marketing executives and owners of broadcasting groups with charges of racketeering, wire fraud and money laundering. This event came as a shocker for football fans worldwide, however, many iterated that it was long pending. So, What begat this disaster which engulfed almost the whole of the footballing world?  The Wholistic View carefully examines (5 Min Read). To grasp this whole series of events and how things trans...