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A comment on Wirecard – The “German Enron”, and a personal history. Parent comment

Re:Wirecard – The “German Enron”, and a personal history by 9nGQluzmnq3M on Monday June 22, 2020 @07:11AM (#23598999)
The first one really is key here. Exhibit A is "stablecoin" Tether, which has more red flags than a Kremlin May Day parade and steadfastly refuses to get audited, but has nevertheless been puttering away for several years now. When will the penny drop?

https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/

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Re:Wirecard – The “German Enron”, and a personal history by chewz on Monday June 22, 2020 @07:17AM (#23599033)
From my experience a fraud is easy to spot with a keen eye. But persuading the public that hot company is a fraud - different matter.
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Re:Wirecard – The “German Enron”, and a personal history by C1sc0cat on Monday June 22, 2020 @07:13AM (#23599009)
How do you avoid getting audited for several years ?
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Re:Wirecard – The “German Enron”, and a personal history by sokoloff on Monday June 22, 2020 @07:16AM (#23599030)
As a cryptocurrency? You just decide not to get audited.
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Re:Wirecard – The “German Enron”, and a personal history by lordnacho on Monday June 22, 2020 @07:18AM (#23599037)
I'm no expert, but I think what happens is you shop around for an auditor but you somehow can never find one who will sign off on the audit, because they need you to produce some docs that you don't have.
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Re:Wirecard – The “German Enron”, and a personal history by 9nGQluzmnq3M on Monday June 22, 2020 @08:48AM (#23599566)
s/don't have/don't want to give/
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Re:Wirecard – The “German Enron”, and a personal history by seanhunter on Monday June 22, 2020 @12:23PM (#23602011)
If you're not a public company then in many/most jurisdictions it's up to the owners/investors to decide whether or not to have audited financials. If they are a 100% legit and have assets to back their tether there really isn't much of a reason not to have that audited and published on a website. For example bullionvault.com publish an audit of physical metal reserves daily.
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