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Tag: PowerCash21

May 15, 2023

Whistleblower Request: New Domains For High-Risk Payment Services Identified!

It is no secret to our readers that we have and are following the activities of payment processors in the high-risk area on our radar screen. Payment processors are the backbone of the cyber economy and are even more critical in the high-risk area. We have recently discovered several new domains through which high-risk merchants handle payment processes. These are likely to be connected to Payabl. We would like to know more about it.

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 23, 2023

Wirecard Legacy: Payabl Versus NomuPay Or How To Grow A Payment Business!

NomuPay, founded and financed by Finch Capital, acquired some companies from the collapsed Wirecard in 2021. Among them also Wirecard Turkey. Payabl was founded in 2011 by Wirecard executives Ruediger Trautmann and Dietmar Knoechelmann and operated as PowerCash21 until 2022. While we see hardly any growth at NomuPay, Payabl, deploying the Wirecard business model with porn, gambling, and online investment merchants, is experiencing explosive growth.

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!

March 1, 2023

Worthwhile Reading: The New Yorker Analyses Of The Wirecard Case

Ben Taub has written a remarkable piece on the Wirecard case in The New Yorker. In contrast to many German-language articles, Taub also sheds light on the beginning and early background of the collapsed German fintech unicorn. He explains that Wirecard's growth was primarily fueled by payment services for gambling and porn. The Wirecard scheme as we know it began with the acquisition of Gateway Payment Solutions from Dietmar Knoechelmann.

FinTelegram

February 12, 2023

Merchant Update: High-Risk Payment Processor Payabl With New Domain Taurus21!

FinTelegram recently reported that according to Similarweb statistics, porn sites xHamsterLive and StripChat have disappeared from the top referral sites of the German-Cypriot high-risk payment processor Payabl. The Payabl Group has created a new domain, Taurus21.com, which is now used to handle payment processes with porn and gambling customers. Via Taurus21.com, payable processes the payment traffic from its porn and online gambling merchants.

January 13, 2023

Wirecard Trial: Crown Witness Told Court That Payabl Founder May Have Established The Asian Connection!

German prosecutors believe Dubai and Asia hold the key to uncovering the Wirecard scheme. This is also where the (actually non-existent ) billions are said..

January 11, 2023

Interesting! Visa Cuddles Up With High-Risk Payment Processor Payabl Despite PornHub Causa!

In August 2022, Visa and Mastercard suspended card payments for TrafficJunky, the advertisement arm of MindGeek, owner of the website PornHub, after a lawsuit raised questions over whether the payment firms have facilitated monetizing child porn and sex trafficking. A federal judge in California rejected Visa's motion to dismiss a lawsuit by a woman who alleges the company facilitated the distribution of child porno on PornHub and other websites run by MindGeek.

December 21, 2022

Payment Monitor: Payabl Facilitates Online Casinos Lucky Dreams And Bitdreams!

Payabl (formerly PowerCash21), a payment institution regulated in Cyprus by the Central Bank of Cyprus, was founded by former Wirecard executives Dietmar Knoechelmann and Ruediger Trautmann. Payabl is a high-risk payment processor specializing in the porn and gambling industries. Payabl is also a payment facilitator for the online casinos Lucky Dreams and Bitdreams. The payment agents are the Cyprus-based Friolion Limited and Libergos Limited, respectively.

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 2, 2022

Popcorn Days: Wirecard Trial Starts With Open Questions About Its Shadow Structure!

The Wirecard trial begins on 8 Dec 2022. The main question will be: Who is responsible for the scandal? Markus Braun, the founder and former CEO, Oliver Bellenhaus, managing director of Wirecard Dubai, and the former head of accounting, Stephan von Erffa have to answer critical questions! Braun and his accomplices are alleged to have operated Wirecard as a criminal organization, the indictment says. The court has scheduled 100 days of hearings. In an underground courtroom.