Tag: Rajaratnam Shanmugaratnam

A Singapore court has convicted James Henry “Henry” O’Sullivan and Rajaratnam Shanmugaratnam (“Shan”) for falsifying escrow confirmations used to validate Wirecard’s alleged Asian third-party business. The verdict undercuts core defense narratives in Munich and strengthens prosecutors’ case that the “escrowed cash” and TPB never existed.

A Wirecard trial is currently taking place not only in Munich. Two defendants are also on trial in Singapore and must answer for document falsification in connection with Wirecard vanished millions held in escrow accounts. The Wirecard Singapore trial commenced on Monday, July 31, with two men connected to the collapsed German payments firm. They are pleading not guilty to charges of falsifying documents related to millions held in escrow accounts.