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Tag: Jan Marsalek

June 8, 2021

Bravo! Bank of Lithuania revokes license of Finolita Unio

As reported by FinTelegram, The Financial Times reported that German prosecutors suspect that more than €100M was stolen from Wirecard via the licensed Lithuanian e-Money Institution (EMI) Finolita Unio. Via this fintech, at least €35M was said to have flowed to fugitive ex-Wirecard executive Jan Marsalek and another €65M to the now insolvent company oCap in Singapore. Today, the Bank of Lithuania announced that the license of Finolita Unio had been revoked for violations of money laundering rules.

May 17, 2021

Wirecard, Finolita Unio, and the Lithuanian Connection

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.

July 23, 2020

Wirecard was run by a criminal organization – what about Payvision and ING?

Surprise, Surprise! The Wirecard madhouse was run by a criminal organization, says the German public prosecutor on July 23, 2020. he public prosecutor's office has allegedly been able to confirm and support these statements with facts. Consequently, the former managers Markus Braun, Burkhard Ley, and the former head of accounting were arrested. The former COO, the Austrian Jan Marsalek remains on the run. But Wirecard is not the only payment processor with close connection to cybercrime and money-laundering.

July 22, 2020

Wirecard – Braun and 3 others arrested; Phony merchants, a porn baron, marijuana, and transaction laundering

In March 2020, the German payment expert Ruben Weigand and the so-called "porn baron" Hamid “Ray” Akhavan have been arrested in California on charges of running a global money-laundering scheme. The center of this scheme is one of the largest on-demand marijuana marketplaces in the US, Eaze Technologies Inc. Both pleaded not guilty but remained in custody at a jail in California. Both have already been involved in the mega-money-laundering scheme of FBME Bank. And yes, there is a rather close connection to Wirecard. Consequently, Markus Braun war arrested again today.

July 12, 2020

Russian Secret Service and German Payment Processors

It seems that the German fintech and payment processor scene is run by secret agents and spies. Especially such agents who are said to have a close relationship to the Russian secret services. In this secret service-driven German fintech scene, it comes as no surprise that the topic of illegal payment services and money laundering seems to be its driving forces. Russia's secret services seem to maintain good relationships with the German fintech and payment processor ecosystem.

July 12, 2020

German FinTech Turf -Michael Gastauer and Black Banx

Until recently, Germany had a good reputation in the financial sector although its banking industry has significant structural problems. All the more reason to be proud of Wirecard. The DAX-listed German fintech managed by the two Austrians Markus Braun and Jan Marsalek seemed to be the superstar in the booming market of next-generation payment processors. Until it collapsed. But there are several dubious German fintechs and payment processors that are active in the worldwide cybercrime scene. Michael Gastauer and his group of companies should be mentioned here.

July 11, 2020

Wirecard – A DAX-listed Russian Laundromat protected by German Authorities?

Suddenly everyone is wondering. Suddenly, information about Wirecard's strange business practices appears everywhere. The involvement of the DAX-listed Wirecard as a payment processor in high-risk businesses such as porn, gambling, or online trading but also the support of illegal and fraudulent transactions such as binary options or marijuana trading are suddenly accepted reality.

July 9, 2020

The Wirecard Rat Race – Money-laundering, Marijuana, Russian Nerve Gas, and Secret Services

The Wirecard case literally gets crazier by the minute. Continuously, we are fed with rumors of ever more fantastic or criminal activities in which the German DAX company and its responsible managers are said to be involved are spreading.We have recently heard that a raid was also carried out on Wirecard's offices in Dublin, Ireland. Apparently also due to a money laundering report by the European Funds Recovery Initiative (EFRI).

July 5, 2020

Wirecard Forensic: Hunting former COO Jan Marsalek and James Henry O’Sullivan

In the German media, the work and disappearance of the Austrian Jan Marsalek has been a central topic in the last few days. As Chief Operating Officer (COO) of Wirecard, Marsalek is said to have been the person actually responsible for the day-to-day business. The 40-year-old manager is said to be a mystery. He has no formal education, no high school diploma, and no university degree. He is said to have started his career at the age of 20 and to have built Wirecard's spider's nest in recent years.

July 1, 2020

Wirecard Offices Raided in Massive Enforcement Action

It's Wirecard time, again! In the course of the Wirecard investigations, the authorities conduct another raid. As announced by the Munich I public prosecutor's office, it has been searching five properties since Wednesday morning, three of them in Munich - including the German headquarters of Wirecard AG - and two in Austria by way of legal assistance.

June 30, 2020

Former Wirecard COO Jan Marsalek on the run

The Austrian Jan Marsalek, 40, was until recently Wirecard board member and the company's COO. He was considered the right hand of his compatriot Markus Braun. Marsalek is said to have rarely been seen at Wirecard headquarters, although as COO he was responsible for operative business. He was a phantom, one German newspaper outlet claims.

June 25, 2020

RIP Wirecard – Cybercrime will miss you! And BaFin too!

For all people familiar with the Wirecard case, the filing for insolvency by Wirecard announced today is no surprise. No surprise at all. It was probably the first DAX-listed company to turn belly up under the blind eyes and the protection of the German regulator BaFin and the German public prosecutor's office, causing lasting damage to the German financial market. Shame on you BaFin and you the involved German prosecutors. The failure of Wirecard is your failure too.