Paysafe Group shares plunge following illegal gambling allegations- Paysafe vociferously denies
Shares in London-listed online payment systems provider Paysafe Group plunged almost 38% yesterday following an accusation that some of its outsourced services have been facilitating “both illegal gambling and Chinese capital control evasion” for one of its largest customers. The stock peaked at 380.60 at 10am Tuesday, fell to 273 by noon, and was recovering with a price of 330 at 4:30 pm Wednesday.
According to a report from the Reuters news service, short-selling firm Spotlight Research made the accusation on Tuesday while additionally claiming that Paysafe G…