Business
Claims Australian firms impacted by ‘rampant fraud’ at German leasing giant Grenke – Sydney Morning Herald
Australian businesses may be victims of alleged “rampant fraud” at German finance leasing giant Grenke AG according to a damning report published by anonymous online group Viceroy Research.
“Viceroy believes Grenke’s stock is uninvestable due to blatant accounting fraud, including dozens of undisclosed related party transactions, and the complete lack of internal controls right down to individual due diligence on customers,” the report states.
Grenke was a financier for (Australian) television advertising company Viewble Media which trapped thousands of small businesses around the country in an alleged scam.
Viewble’s customers paid $430 a month to a finance company under three-y…
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