Rank Group Shares Slide After €7.1m Fraud Hits Spain Units
Shares in Rank Group declined sharply after the company disclosed that its Spanish operations were affected by a multimillion-euro payment fraud, prompting both police involvement and an internal investigation. The incident involves the group’s Enracha and Yo brands in Spain and has been described by the company as exceptional in nature. Impact on Finances and Market Reaction Rank confirmed that it uncovered fraudulent payments totalling €7.1 million across its Spanish business and subsequently notified law enforcement authorities. The group also appointed an […]
Shares in Rank Group declined sharply after the company disclosed that its Spanish operations were affected by a multimillion-euro payment fraud, prompting both police involvement and an internal investigation. The incident involves the group’s Enracha and Yo brands in Spain and has been described by the company as exceptional in nature. Impact on Finances and Market Reaction Rank confirmed that it uncovered fraudulent payments totalling €7.1 million across its Spanish business and subsequently notified law enforcement authorities. The group also appointed an […]
