Tag: Payabl.cy
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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.
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Payabl Investment Klarpay Proudly Announced Its Q3 2022 Milestones!
Klarpay is a FINMA-regulated FinTech and received an investment from Payabl Group a few months ago. The latter was founded by former Wirecard executives Ruediger Trautmann, Dietmar Knoechelmann, and his wife Ayelet Fruchtlander-Knoechelmann. Klarpay announced that in Q3 it became a Principal Member of the VISA network and integrated Visa’s B2B Connect, which enables Klarpay’s business customers to perform cross-currency outbound payments. And it introduced Apple Pay.
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The Fight Of Former Wirecard Managers Against FinTelegram!
While new money laundering allegations against the Wirecard scheme put the collapsed German fintech into the limelight again, the business of former Wirecard managers and partners seems to flourish. Around 2010, former Wirecard managers and partners Ruediger Trautmann, Dietmar Knoechelmann, his wife Ayelet Fruchtlander Knoechelmann, together with Frank Schoonbaert, and Nissim Zarfati established Payabl Group (previously PowerCash21). Here is another update!
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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!
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Initial Review – Capex And Keyway Investments
We recently started to follow the Key Way Group of the Romanian Octavian Patrascu and published an initial review. Key Way Group operates the broker Capex with the CySEC-regulated Key Way Investments Ltd and the broker clicktrades via the offshore entity KW Investments Limited in Seychelles. We took a closer look at the two brokers and found in our initial review on 14 June 2022 that Capex violates the ESMA and CySEC regulations by accepting pre-KYC deposits in theoretically unlimited amounts via bank wire. Here is the review.