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Tag: Markus Braun

November 10, 2022

Interesting! Explosive Growth Of Porn Payment Processor Payabl.

While former Wirecard CEO Markus Braun prepares in prison for his trial starting in December 2022, the growth of Wirecard successor Payabl is exploding. German-Cypriot high-risk payment processor Payabl was founded by former Wirecard top executives Dietmar Knoechelmann and Ruediger Trautmann. The number of website visitors exploded from around 15,000 in July to more than 306,000 in October 2022. The growth is primarily fueled by porn customers such as xHamsterlive or StripChat.

High-risk payment processors

November 6, 2022

New Reports About Wirecard’s Porn Business!

In 2021, when Commerzbank terminated the account of the porn company Manwin, Wirecard was on the spot. The German fintech did business with the porn industry for longer than ex-CEO Markus Braun portrayed it to the outside world. Wirecard grew to prominence with customers in the gambling and porn industries. Over the years, however, Braun tried to shed the smut image of the early years as best he could. German FinanceFWD recently published an interesting report.

October 28, 2022

Wirecard Legacy: High-Risk Payment Processor Payabl. And Its Business Model!

While the former Wirecard CEO Markus Braun is waiting for his trial in Germany, the insolvency administrator, Michael Jaffé, is trying to shed light on the scandal and claims damages against the former management and partners. In June 2022, he secured over €220 million from a subsidiary. Meanwhile, high-risk payment processor Payabl, founded and run by former Wirecard top executives, is thriving and promoting itself in an aggressive Wirecard-style on social media.

September 23, 2022

The Wirecard Trial And The Journey To Reveal The Hidden Truth!

The first Wirecard indictment was approved by the competent court in Germany. The trial against Wirecard co-founder and CEO Markus Braun and his alleged accomplices will begin sometime in the next few months. Reading the excerpts of the indictment has shaken us a bit. For years, the German public prosecutor's office has protected Wirecard. This indictment only scratches the surface of a global scheme with many more players. Evidently, the German prosecutors have no ambition to disclose it and only go for the low-hanging fruits.

September 22, 2022

German Court Approves Wirecard Indictment!

The Munich I Regional Court admitted the Wirecard indictment. In the 474-page indictment, the prosecution accuses Markus Braun, his Chief Financial Officer Stephan von Erffa, and the former Wirecard representative in Dubai, Oliver Bellenhaus, of balance sheet falsification, market manipulation, breach of trust in several cases, and commercial gang fraud. They allegedly falsified Wirecard balance sheets from 2015, damaging lending banks by a total of €3.1 billion.

September 9, 2022

Follow The Wirecard Money! From Ireland To Cyprus!

Most recently, Interpol issued a Red Notice, and law enforcement in Singapore issued an arrest warrant for the former executive of Wirecard Asia, Edo Kurniawan (report here). In Germany, former CEO Markus Braun is awaiting trial in prison and the COO Jan Marsalek is on the run. The fact is that large areas of the Wirecard scheme remain in the dark. FinTelegram is joining its whistleblowers in the search for the missing money and the Wirecard legacy. Here's another update showing the timeline from Inatec to Payabl.

August 29, 2022

Where Are The Wirecard Millions? An Investigative Journey Searching For Answers!

At the end of the day, the only big question at Wirecard was where around €1.9 billion remained. The Wirecard collapse in 2020 triggered one of the biggest financial scandals in Germany. While founder and CEO Markus Braun is still in pre-trial custody, his Chief Operating Officer Jan Marsalek is on the run. The real question at Wirecard, however, is how the organization was structured at the time and whether the money was really ever at Wirecard. FinTelegram tries to connect some dots!

March 14, 2022

No surprise! German prosecutors charge former Wirecard Markus Braun and other managers

It was expected. Investigations have been ongoing for almost two years. The Munich public prosecutor's office has filed charges against former Wirecard CEO Markus Braun. On 480 pages, the investigators accuse him of professional gang fraud, embezzlement of group assets, falsification of the balance sheet, and manipulation of the Wirecard share price. Oliver Bellenhaus, Wirecard's former governor in Dubai, and Stephan von Erffa, the former chief accountant and deputy CFO, have also been charged.

Fintech

September 21, 2020

Wirecard Supervisory Board Stefan Klestil had to retire from N26

He is the latest Wirecard victim. Stefan Klestil, the son of the former Austrian president, is the Lead Partner FinTech at the Austrian VC SpeedInvest. Now Klestil is catching up on his past as a member of the Supervisory Board of Wirecard and close business partner of its founder and CEO Markus Braun. He allegedly has to withdraw from the supervisory board of the German FinTech start-up N26 under pressure from BaFin.

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

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.