Jumia—Citron Research called Jumia 'most obvious fraud' in 18 years citing massive discrepancies in SEC filings
In 2019, Citron Research alleged massive discrepancies between Jumia's confidential investor presentation (stating 41% of orders were returned, not delivered, or cancelled) and what the company reported to the SEC. Citron stated: 'In 18 years of publishing, Citron has never seen such an obvious fraud as Jumia.' The allegations raised questions about the company's reported metrics and business fundamentals.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Corporate Governance | -against | primary | -1.00 |
| Overall incident score = | -0.086 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.57)× agency (incidental ×0.1)
Evidence (1 signal)
Citron Research called Jumia 'most obvious fraud' in 18 years citing massive discrepancies in SEC filings
In 2019, Citron Research alleged massive discrepancies between Jumia's confidential investor presentation (stating 41% of orders were returned, not delivered, or cancelled) and what the company reported to the SEC. Citron stated: 'In 18 years of publishing, Citron has never seen such an obvious fraud as Jumia.' The allegations raised questions about the company's reported metrics and business fundamentals.