The parallels between the German Wirecard and its UK Mini-Me Moorwand are remarkable. While FCA-regulated e-Money Institution Moorwand is still up and running, Wirecard collapsed in June 2020. Moorwand has been established by the French-born Brit Alain Bazille in 2013. Both companies do and did their business primarily in high-risk segments such as porn, gambling, or online trading. They have accomplished quite a reputation for their laissez-faire KYM/AML/CTF approach by light-heartedly accepting illegal businesses, scams, and cybercrime ventures. Hundreds of ripped off investors have already complained with FCA (like with the BAFIN formerly about #Wirecard) about the business activities of Moorwand and its subsidiary UPC Consulting Ltd. Another similarity is that EFRI has filed a money laundering complaint regarding the activities of Moorwand with the FCA as EFRI filed a money laundering complaint with WIRECARD months before the burst of Wirecard. So like BAFIN, FCA may run in material issues with not acting against Moorwand.
In March 2020, Wirecard‘s former Head of Business Development Luc Gueriane was appointed Chief Commercial Officer of Moorwand.
Luc Gueriane, formerly Head of Business Development at Wirecard, has been appointed by Moorwand as its Chief Commercial Officer. Moorwand is a dedicated BIN sponsor, issuer and acquirer that provides Electronic Money Services and access to VISA, Mastercard, JCB and UnionPay card schemes to payment providers.Moorwand Press Release issued 5 September 2019
After the resignation of Robert Courtneidge as director of Moorwand in March 2020, the British Gueriane, born in 1981, was also appointed director of the FCA-regulated e-money institution. According to the information on his LinkedIn Profile, Gueriane was Head of Business Development at the now collapsed German fintech star. His tenure lasted from March 2013 to August 2018. Prior to his appointment at Moorwand, Gueriane had a short stint at Cornercard UK Ltd, the subsidiary of the Swiss Corner Bank Group.
A number of its formerly #Wirecard customers are said to have already switched to Moorwand. Gueriane’s knowledge about how to treat this kind of high-risk customers is certainly an advantage for Moorwand.
Luc Gueriane is thus part of an extensive network of individuals and companies across different jurisdictions. These are closely linked and some of them have massive difficulties with authorities such as KBH Andelskasse. The network’s undisputed principal, Wael Almaree, sold the unregulated Tribe Payments in October 2018 but through Telleroo and other transactions, Tribe is still part of this network. Gueriane can certainly use his talent for business development in this network.
Disclaimer: It should not be assumed that Luc Gueriane is guilty of any illegal actions or involved in illegal practices such as money-laundering or the acquisition of cybercrime clients. The illegal activities of Moorwand, as exposed by FinTelegram, happened under the regime of Robert Courtneidge, Alain Bazille, and Wael Almare. The latter, however, still controls the company as the only person with significant control.