German unicorn payments processor Wirecard (WDI.DE) filed for bankruptcy today, the result of widely reported internal fraud.
Fresh off a huge loss in their WeWork investment, Wirecard’s bankruptcy is another embarrassment for Softbank, which had invested 900M Euros in the failed FinTech company.
Fortunately for Softbank, they appear to have resold their investment to other institutional investors, who presumably will take the loss.