As reported in March 2019, the Financial Times team investigating Wirecard found a retired seaman and his extended family of 12 living in a suburb of the northern Philippine city of Cabanatuan, who had no idea why a company called ConePay International had used his address.
ConePay, incorporated at the house in Cabanatuan three hours’ drive north from the capital Manila, was the source of millions of euros in commission income accrued by Wirecard’s Singapore business in recent years — revenues that the FT has discovered often lacked the paperwork to justify them and that Wirecard’s accounts staff in the region failed to collect for more than three years.
The FT clearly spend a considerable amount of money investigating the Wirecard affair. Question: how much did their investigation, starting in 2015, cost against what EY were paid over the same period to audit the company?