WeTrade Group Found An Expenditure Of $2M Inconsistent With The 2022 Annual Report from Conducted Internal Investigation
Portfolio Pulse from Benzinga Newsdesk
WeTrade Group Inc. (WETG) disclosed findings from an internal audit that revealed a $2 million expenditure by former COO Zhuo Li and former CFO Jianda Xu that raised doubts. The company has reported the incident to PCAOB and the Chinese police.

December 01, 2023 | 7:21 am
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WeTrade Group Inc. found a questionable $2 million expenditure by former executives, reported the issue to PCAOB and Chinese authorities, potentially affecting investor trust and stock price.
The discovery of a significant and questionable expenditure by former executives could lead to concerns about financial management and internal controls within WeTrade Group. Reporting the issue to regulatory and law enforcement agencies indicates the seriousness of the matter. This could negatively impact investor confidence and the company's reputation, likely resulting in a short-term decline in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100