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.
But on April 28, 2020, auditor KPMG revealed that it lacked sufficient evidence to address all allegations of accounting misdeeds, causing Wirecard's shares to plummet 26%. London-based hedge fund TCI and other short-sellers like Armin S. filed criminal charges against Wirecard. On June 5, police raided Wirecard's headquarters as part of a probe into potentially false statements made by CEO Markus Braun and three other board members to investors about the audit.