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Tag: CardSystems Middle-East

Not A Good Investment! Wirecard Crown Witness Received €4.8 Mio For His Fraud Contribution!

Bankruptcies Charlene Lensburg -
The former executive for Wirecard in Dubai, Oliver Bellenhaus, continued to explain the Wirecard fraud to the court in Munich. He confessed that his involvement in the alleged Wirecard billion-euro fraud earned him €4.8 million. According to the indictment, Bellenhaus, who worked in Dubai from 2013 to 2020, received this sum as a one-off payment, diverted from company funds, and bypassed the payroll department. His monthly salary was €13,000 he said on Thursday.

Wirecard Drama – Another Dubai company vanished into thin air!

Compliance tamir -
The payment service provider Wirecard is not running out of negative headlines. That's for sure. The special audit report submitted by KPMG at the end of April 2020 has greatly increased the pressure on the DAX-listed German FinTech, its CEO Markus Braun, and finally its auditor EY. Since then, the share price has plummeted from more than €138 to €76.36 on May 15, 2020.

Attention: Wirecard closes down a key Dubai subsidiary to reduce “corporate complexity”

Wirecard tamir -
Dubai - a popular place for its secrecy - is a hot spot for Wirecard. In recent years, the tax haven has developed into a payment hub that is strongly linked to the Asian region as well as to Israel. The Financial Times revealed in 2019 that actually a significant part of Wirecard's processed transaction volume is acquired and processed via its subsidiary in Dubai.

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