Tag: Al Alam

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.

On Day 3 of the Wirecard Trial, the prosecution's key witness, Oliver Bellenhaus, is called to testify. The former director of the Wirecard business in Dubai speaks quietly and extremely quickly. He wants to get his testimony over with as quickly as possible and avoids any eye contact. In essence, he confirms what he has already said during the questioning at the public prosecutor's office. The TPA system was a big fraud, audit data was faked, and Wirecard was a cancer, Bellenhaus told the court.

In our researches on scam-facilitating payment processors, Finolita Unio UAB, regulated by the Bank of Lithuania with authorization code LB000490, came to our attention only once as a payment facilitator in the GlobalSpotFX scam with the Estonian Woodstock OÜ (report here). The Financial Times reports that Finolita Unio is part of Senjo Group, a former Wirecard partner through which hundreds of millions have flowed and vanished. More than €100M have been processed through its Lithuanian subsidiary.

Regulated by the FCA with reference No 504318, PXP Financial Limited as an Authorized Payment Institution was originally founded as Kalixa Accept Limited by Austria's Bwin. Following the acquisition of Bwin by public-listed GVC Holdings PLC, Kalixa was sold to Senjo Group for €29 million in late 2019 and renamed PXP Financial. The company recently announced its cooperation with FCA-regulated MoneyNetInt Group. Senjo Group was one of the largest - and, according to the Financial Times (FT), most opaque - partners of the collapsed Wirecard.

Regulated by the FCA with reference No 504318, PXP Financial Limited as an Authorized Payment Institution was originally founded as Kalixa Accept Limited by Austria's Bwin. Following the acquisition of Bwin by public-listed GVC Holdings PLC, Kalixa was sold to Senjo Group for €29 million in late 2019 and renamed PXP Financial. The company recently announced its cooperation with FCA-regulated MoneyNetInt Group. Senjo Group was one of the largest - and, according to the Financial Times (FT), most opaque - partners of the collapsed Wirecard.