Yes, the Wirecard trial still continues. In a recent court hearing of the Wirecard fraud trial, crucial testimony has raised serious questions about the supposed billion-dollar transactions in Asia that were central to the scandal engulfing the former DAX-listed company. The spotlight turned to the Japanese national Yoshio Tomiie, the former head of Senjo, a key partner in Wirecard‘s operations, as he took the stand in the Munich court.
Tomiie, who held a nominal position as the director of the Singapore-based company Senjo, one of Wirecard‘s third-party partners, expressed his ignorance about the processing of supposed credit card payments. His testimony casts significant doubt on the existence of the transactions that led to Wirecard‘s dramatic insolvency in June 2020, when €1.9 billion went missing from its books.
Read our Wirecard reports here.
Senjo, which supposedly played a pivotal role in processing payments for Wirecard, was mentioned in connection with large companies like Burger King and British Airways. However, Tomiie, in his testimony, was skeptical about such contracts, stating, “I don’t think we had any contracts with them.” This revelation questions Senjo‘s operational capability, hinting at a lack of necessary structures, technology, and staff to handle such transactions.
Read more about Senjo here on FinTelegram.
The court’s success in bringing Tomiie, a Malaysian resident, to testify is notable given the challenges faced in getting foreign witnesses to participate in the trial. His three-day testimony, requiring translation from English and Japanese, is seen as critical in shedding light on the intricate web of Wirecard’s dealings.
Tomiie, with a background in the import, export, retail, and cosmetics industries, eventually ventured into the payment industry, founding several payment service providers within Wirecard’s network. His involvement with Senjo is particularly significant for the Munich trial. Senjo and Al Alam (Dubai) and Payeasy (Philippines) were Wirecard‘s third-party acquirers, purportedly processing transactions in regions where Wirecard lacked a license.
The authenticity of these third-party acquisitions is the trial’s central question. While Wirecard‘s former CEO Markus Braun and his lawyer claim that the company’s former COO Jan Marsalek and others embezzled funds behind Braun’s back, prosecutors believe these transactions never occurred.
Tomiie’s role in Senjo, despite being listed as a management board member and allegedly signing contracts with Wirecard, appears to be minimal, according to his account. He downplayed his involvement, suggesting that Marsalek and British businessman Henry O’Sullivan were the real forces behind Senjo. Tomiie’s testimony underscores his limited understanding and involvement in the supposed transactions, contradicting the narrative presented by Wirecard about its third-party partner business.
The trial continues to unravel the complexities of Wirecard‘s operations, with Tomiie’s testimony providing vital insights into the inner workings of the companies involved in this extensive financial scandal. The court, led by presiding judge Markus Foedisch, continues to probe the depth of activities conducted by Senjo and its relation to Wirecard‘s alleged fraud.
