However, on 28 April 2020 the auditor KPMG announced that it had not received sufficient documentation to address all allegations of accounting irregularities, with Wirecard shares tumbling 26%. London Based Hedge-Fund TCI and others shortsellers like Armin S. filed criminal charges against Wirecard. On 5 June, Wirecard's headquarters were searched by police as part of a criminal investigation into potentially misleading statements to investors by CEO Markus Braun and three other board members regarding the audit.
However, on 28 April 2020, auditor KPMG stated that it had not received sufficient documentation to address all allegations of accounting irregularities, resulting in a 26% drop in Wirecard shares. London-based hedge fund TCI and other short-sellers like Armin S. filed criminal charges against Wirecard. On 5 June, police searched Wirecard's headquarters as part of a criminal investigation into potentially misleading statements made by CEO Markus Braun and three other board members to investors regarding the audit.