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Category: Wirecard

March 26, 2023

Wirecard Trial: The Questionable Role Of The Payabl Founders!

The Wirecard trial in Munich against Markus Braun, Oliver Bellenhaus, and Stephan von Erffa is closely followed on Twitter. The private investigator @csfa continuously publishes background information on the trial, which he also attends. Most recently, he shared that he emailed the prosecutors to point out the role of former Wirecard director Ruediger Trautmann and Payabl (formerly PowerCash21). He also exposed some interesting new companies connected to Trautmann and Payabl.

December 9, 2022

Wirecard Trial Day #1: Prosecutor Reads Indictment And Paints A Criminal Organization!

The trial started with a delay of about 45 minutes because the entrance checks for the visitors took longer than planned. The reading of the indictment takes about 5 hours. The prosecutors allege that tens of thousands of shareholders have lost more than €20 billion. Banks and other creditors were left with more than €3 billion. The former CEO Markus Braun, who at some point before 2015 would have formed a criminal organization out of Wirecard, is said to be primarily responsible.

July 24, 2020

Wirecard cybercrime case turns into a lethal EY scandal

The Wirecard cybercrime case is developing more and more of a lethal scandal for the auditor EY. Over the years, EY may have systematically failed to ask critical questions and to carry out proper auditing activities. For years, unqualified audit opinions were issued and fueled the Wirecard hype. Such an unqualified audit opinion was apparently also planned for 2019, despite the many publicly known facts and despite the KPMG report already available. This was disclosed to the Financial Times by a whistleblower.

July 23, 2020

Wirecard was run by a criminal organization – what about Payvision and ING?

Surprise, Surprise! The Wirecard madhouse was run by a criminal organization, says the German public prosecutor on July 23, 2020. he public prosecutor's office has allegedly been able to confirm and support these statements with facts. Consequently, the former managers Markus Braun, Burkhard Ley, and the former head of accounting were arrested. The former COO, the Austrian Jan Marsalek remains on the run. But Wirecard is not the only payment processor with close connection to cybercrime and money-laundering.

July 9, 2020

The Wirecard Rat Race – Money-laundering, Marijuana, Russian Nerve Gas, and Secret Services

The Wirecard case literally gets crazier by the minute. Continuously, we are fed with rumors of ever more fantastic or criminal activities in which the German DAX company and its responsible managers are said to be involved are spreading.We have recently heard that a raid was also carried out on Wirecard's offices in Dublin, Ireland. Apparently also due to a money laundering report by the European Funds Recovery Initiative (EFRI).

July 5, 2020

Wirecard Forensic: Hunting former COO Jan Marsalek and James Henry O’Sullivan

In the German media, the work and disappearance of the Austrian Jan Marsalek has been a central topic in the last few days. As Chief Operating Officer (COO) of Wirecard, Marsalek is said to have been the person actually responsible for the day-to-day business. The 40-year-old manager is said to be a mystery. He has no formal education, no high school diploma, and no university degree. He is said to have started his career at the age of 20 and to have built Wirecard's spider's nest in recent years.

July 1, 2020

Wirecard Offices Raided in Massive Enforcement Action

It's Wirecard time, again! In the course of the Wirecard investigations, the authorities conduct another raid. As announced by the Munich I public prosecutor's office, it has been searching five properties since Wednesday morning, three of them in Munich - including the German headquarters of Wirecard AG - and two in Austria by way of legal assistance.

FCA
Wirecard

June 30, 2020

FCA Ban lifted! Wirecard UK may continue business

In the wake of the collapse of the German Wirecard and the subsequent filing for insolvency proceedings, the UK regulator Financial Conduct Authority (FCA) last week temporarily prohibited the operation of Wirecard Card Solutions Ltd. This affected numerous Wirecard partners who had issued debit cards to their customers via the German Fintech. Even hundreds of thousands of cardholders were suddenly able to access their credit balance at the respective Wirecard partner or pay bills with debit cards. Today, the FCA ban was lifted.

June 26, 2020

Wirecard Case – EY is not a victim but a facilitating auditor

The insolveny of Wirecard must be a satisfaction to the journalists and editors of the Financial Times. They have critically reported on the so-called Wirecard House of Cards on the basis of facts since 2016. A very important question in this context is the one about the role of EY in this scandal?

June 25, 2020

Former Wirecard Markus Braun released on bail and caught by a margin call

The detainment of former Wirecard CEO Markus Braun was a rather short stint. His former colleague on the Board of Management and long-time companion Jan Marsalek was not even within reach of the law enforcement agents because he was allegedly in the Philippines, i.e. he is on the run. But back to Braun.

Wirecard

June 9, 2020

Breaking News: Wirecard may be related to hacker attacks against critics, short-sellers, and journalists.

The Financial Times' findings that the German FinTech Wirecard may be related to online attacks on critics are neither new nor surprising. It is well known in the scene that the Austrian Wirecard CEO Markus Braun and his fellow board member Jan Marsalek dig deep into their pockets when it comes to keeping critics quiet through lawsuits, PR campaigns, or social media attacks.

June 7, 2020

Wirecard Office Raids – German BaFin finally moved against Markus Braun and other directors

The German watchdog took action in the Wirecard case. It was about time and hence it didn't really come as a surprise when Munich law enforcement agents had the offices of Wirecard‘s headquarters searched last Friday. Previously, BaFin had filed a criminal complaint against Wirecard on suspicion of market manipulation. The investigations by the public prosecutor’s office are allegedly directed primarily against Wirecard CEO Markus Braun and his fellow board members. It currently looks as if Braun's time as CEO will soon be over.