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Tag: Markus Braun

Shortseller

May 9, 2023

Viceroy Shortsellers Seem To Be Right About Swedish Real Estate Developer SBB

SBB's annual report was not coherent. He accused SBB and its CEO, Ilija Batljan, of misleading and defrauding investors (reports here). On Monday, S&P Global Ratings downgraded Stockholm-based SBB, one of Europe's most indebted real-estate developers, to junk status. On Twitter, Perring said that the downgrade brings Barljan to the verge of bankruptcy:

April 21, 2023

Interesting: The Wirecard Porn Merchants Are Part Of The Defense Strategy In Wirecard Trial!

In the last days of the Wirecard trial, former Wirecard CEO Markus Braun footed his defense on merchants still considered "big players" in the porn sector. However, their business was not handled by third-party partners in Asia but by Wirecard itself or so-called "white label acquirers" from Europe with whom it had business ties. This is shown by several internal merchant lists with more than 8,000 (!) porn websites listed.

March 26, 2023

Wirecard Trial: The Questionable Role Of The Payabl Founders!

The Wirecard trial in Munich against Markus Braun, Oliver Bellenhaus, and Stephan von Erffa is closely followed on Twitter. The private investigator @csfa continuously publishes background information on the trial, which he also attends. Most recently, he shared that he emailed the prosecutors to point out the role of former Wirecard director Ruediger Trautmann and Payabl (formerly PowerCash21). He also exposed some interesting new companies connected to Trautmann and Payabl.

March 14, 2023

The New Main Suspect In The Wirecard Trial!

Financial Times called James Henry O’Sullivan a hard-partying Englishman. The German prosecutors in the Wirecard trial claim that he was part of the Wirecard fraud scheme in Asia. Allegedly, O’Sullivan cashed hundreds of millions of euros from Wirecard. In Singapore, the 48-year-old faces charges of abetting the falsification of documents, including papers to persuade Wirecard’s auditors EY that the company had extensive cash reserves, which it hadn't.

March 7, 2023

From Wirecard To Payabl: Request 4 Crowdsourced Fact Check Of A Defamation Complaint!

The first Wirecard trial is currently taking place in Munich. The defendants are the former CEO Markus Braun, Oliver Bellenhaus, and Stefan von Erffa. In..

March 3, 2023

Wirecard Trial: Markus Braun Fighting To Prove The Existence Of 3rd-Party Acquirer Network!

In Munich, Markus Braun, the former CEO of collapsed German fintech unicorn Wirecard, is fighting to prove his innocence to the court. Yesterday Thursday, he used a PowerPoint presentation to prove that the controversial third-party acquiring business in Asia existed. The prosecutors' crown witness Oliver Bellenhaus denied the existence of this business. The judge was skeptical; Braun could not answer important questions conclusively. Here is the FinTelegram update!

February 15, 2023

Scandal: Old Money Laundering & Fraud Complaint Against Wirecard Unearthed!

On March 4, 2010, the Munich I Public Prosecutor's Office received a report with a lot of explosive power that could have an impact on the current Wirecard trial. "Criminal complaint for money laundering in the billions against Wirecard AG, Management Board Markus Braun," is the (translated) title of the new complaint, the Austrian Kurier reports. It states that Wirecard's entire business model "is based on the processing of highly profitable but illegal transactions."

February 13, 2023

Wirecard Trial: Former CEO Markus Braun Takes The Stand!

The Wirecard trial in Munich has its first highlight today. After hearing the testimony of state witness Oliver Bellenhaus in recent weeks, it was the turn of former CEO Markus Braun today. His questioning will probably take many days. Braun goes back a long way to his childhood, describes his penchant for numbers, and explains that Wirecard was created in 2005 through a reverse IPO where he was CEO, and Payabl founder Ruediger Trautmann was Chief Sales Officer.

January 20, 2023

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

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.

December 20, 2022

Wirecard Trial #3: Wirecard Was A Fraud System And A Cancer!

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.

December 13, 2022

Wirecard Trial: They Surely Had A Third-Party Acquiring Network!

In the second day of the Wirecard trial, defense attorneys delivered their opening statements. As expected, the defense attorney of former CEO Markus Braun argued that the controversial Third-Party-Acquiring (TPA) had taken place. On the other hand, the defense counsel of Oliver Bellenhaus, who is the prosecution's key witness, claimed that the TPA businessdid not exist. We are certain that the largely dirty TPA business did exist and that many illegal transactions and scams were conducted via it.

December 12, 2022

Wirecard Trial: Lawyer Of Former Wirecard CEO Seeks To Suspend Trial

Former Wirecard CEO Markus Braun and his lawyers need more time to examine the documents. His defense lawyer Alfred Dierlamm today announced a motion to suspend the fraud trial against Braun and two other ex-managers of the insolvent payment services provider. The background was "what was poured onto our table in terms of files," he said on the second day of the trial at the beginning of his statement, which was scheduled to last about two hours.