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August 3, 2023

Wircard Trial: No Substantial Evidence Against Former CEO Markus Braun!

The Wirecard trial in Munich is expected to extend beyond the initially planned 100 days of court hearings. The court is contemplating the extension of evidence collection until February. As the trial progresses into its first extended break after 58 days, no substantial evidence has been found against the former CEO, Markus Braun, in the alleged billion-dollar fraud case of the DAX-listed company that collapsed in 2020.

November 2, 2022

Forensic Analysis: How Wirecard Became An International High-Risk Payment Juggernaut!

Wirecard was an unremarkable and not particularly innovative German payment processor until 2007. The international take-off started with the acquisition of Trustpay International AG and the two payment veterans Ruediger Trautmann (2005) and Dietmar Knoechelmann (2006). Wirecard acquired companies from them in complicated and secretive transactions, creating a huge international high-risk payment volume. Here is the story of Wirecard's internationalization.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.