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Auditors

December 19, 2024

Report for FinTelegram: EY’s Controversial Comeback to the Dax League

EY, the embattled audit giant, has re-entered the Dax-listed audit sphere by securing Qiagen, a biotech heavyweight, as its new auditor. This surprising comeback follows a two-year ban on acquiring listed clients in Germany due to the Wirecard scandal, where EY’s audits faced allegations of gross negligence.

December 17, 2024

Breaking: BR Investigation Uncovers Wirecard and SoftSwiss Ties in Illegal Gambling Schemes!

A deep-dive investigation by Bavarian broadcaster BR has exposed significant connections between the collapsed Wirecard and Berlin-based SoftSwiss, run by Belarussian national Ivan Montik. The report, part of BR's Gambling without Rules series, highlights SoftSwiss' extensive role in operating illegal online casinos targeting Germany.

September 5, 2024

Former Wirecard Executives Ordered to Pay €140 Million in Damages

A Munich court has found Markus Braun, the former CEO of Wirecard, along with Alexander von Knoop, former CFO, and Susanne Steidl, former chief product officer, personally liable for €140 million in damages. This decision comes after a long-running civil suit filed by Michael Jaffé, the administrator of Wirecard, over the executives’ roles in issuing unsecured loans to allegedly fraudulent business partners in Asia.

September 4, 2024

Wirecard Trial: Ex-Wirecard CEO Markus Braun Remains in Custody During the Ongoing Trial!

The former Wirecard CEO Markus Braun remains in custody. The trial, which is one of the largest financial fraud cases in Germany's history, also includes defendants Oliver Bellenhaus and Stephan von Erffa. The judges also justified the decision with the risk of flight and obstruction of justice. The value of the Wirecard trial remains questionable in view of the activities of the fugitive former board member Jan Marsalek, which have since been uncovered.

August 30, 2024

Wirecard Case: Former Auditor EY Faces €350 Million Collateral Demand in Wirecard Litigation!

Since December 2022, former Wirecard CEO Markus Braun and two former executives, Oliver Bellenhaus and Stephan von Erffa, have faced charges, including falsifying the group's balance sheets. According to the German prosecutors, the so-called third-party acquirer (TPA) "did not actually exist." The former COO Jan Marsalek remains on the run. Meanwhile, former auditor EY faces massive lawsuits.

August 25, 2024

Breaking: Israeli-Canadian Binary Options Fraudster Joshua Cartu Released by Russian Authorities!

On August 20, 2024, Joshua Cartu, 45, a prominent figure in the notorious Cartu Brothers‘ binary options fraud scheme, was detained in Russia. Court press service said Cartu was under an Interpol Red Notice due to accusations that he was part of a group that defrauded investors between 2013 and 2017. The Cartu Brothers operated the GreyMountain Management (GMM) Binary Options fraud scheme. On August 24, 2024, Cartu was released.

August 6, 2024

New Indictments in Wirecard Case: Former Executives Charged with Breach of Trust

The Wirecard trials in Germany continue unperturbed despite the confusion surrounding the espionage affair involving former Management Board member Jan Marsalek. Four years after Wirecard collapsed, former chief financial officer Alexander von Knoop and former chief product officer Susanne Steidl have been charged with breach of trust. The charges are part of the ongoing investigation into one of Europe’s largest accounting scandals.

July 15, 2024

Wirecard Trauma: German FinTech Solaris Faces Increased Scrutiny from BaFin Over AML and Compliance Deficiencies!

No new Wirecard, please! Berlin-based fintech Solaris is once again under the microscope of Germany’s financial supervisory authority, BaFin, which has issued a stern warning and set deadlines for the company to rectify significant deficiencies identified in several audits. The latest move underscores ongoing regulatory concerns regarding Solaris' operations, particularly in areas critical to financial integrity and stability.

July 12, 2024

Ukrainian Oligarch Gennadiy Boholyubov Flees to Vienna Amid Corruption Allegations

Vienna has once again been the subject of international scrutiny regarding money and corruption. Recently, the Austrian capital gained attention due to its connection to the Wirecard scandal, in which the Russian secret service reportedly received information through former Austrian agents. Now, the city is in the spotlight due to the alleged escape of Ukrainian oligarch Gennadiy Bogolyubov amidst criminal investigations.

July 5, 2024

Wirecard & The Forsyth Twist: Russian Espionage Allegations and Implications for CEO Markus Braun’s Trial!

As the trial of former Wirecard CEO Markus Braun unfolds in Munich, a new twist in the Wirecard saga emerges, intertwining financial scandal with espionage intrigue. Recent revelations by Austrian law enforcement have uncovered that Jan Marsalek, the fugitive former COO of Wirecard, allegedly paid €500,000 to "Austrian spies" in September 2017. This discovery has profound implications for the ongoing trial and raises questions about the extent of Russian involvement in the Wirecard collapse.

June 13, 2024

Wirecard Trial: Millions in Uncashed Checks Discovered in Office Cabinets

The ongoing Wirecard trial continues to captivate with its unfolding drama and astonishing revelations. In a surprising turn, millions of euros in uncashed checks were discovered in office cabinets at Wirecard's headquarters following the company's collapse. This shocking detail emerged during the testimony of witness Tatyana Teodorovich, who painted a chaotic picture of the financial operations at Wirecard.

June 11, 2024

Wirecard Case: Markus Braun’s New Defense Lawyer Demands Inclusion of Espionage Allegations!

It had to happen. In the only reasonable twist, the Wirecard trial has seen a significant shift with the resignation of star defense lawyer Alfred Dierlamm. Reportedly, Dierlamm resigned due to financial constraints, leaving the defense of Markus Braun, the accused CEO of the collapsed Wirecard, in the hands of a new advocate, Theres Kraußlach. She has requested that the criminal file of fugitive Jan Marsalek be included.

Crypto Titan CZ Pivots: Binance Founder’s $37 Billion Family Office YZi Labs Bets Big on AI and Web3!

Changpeng "CZ" Zhao, the crypto billionaire behind Binance, is making waves in the investment world with his latest move. Following his departure as CEO of Binance, CZ has transformed his venture capital arm, Binance Labs, into a formidable family office. This strategic shift allows him to manage his vast personal wealth, estimated at $37 billion, while maintaining his influence in the tech and finance sectors.

The Arrest of René Benko: Austria’s Former Real Estate Titan Falls!

In a dramatic turn of events, Austrian real estate tycoon René Benko, once hailed as the mastermind behind the sprawling Signa Group empire, was arrested Thursday morning at his opulent Tyrolean villa. The Austrian Office of the Public Prosecutor for Economic Affairs and Corruption (WKStA) executed the arrest, citing risks of evidence tampering and the potential for further crimes.

FinTelegram

Trump’s Crypto Gambit: Ross Ulbricht’s Pardon and the Meme Coin Phenomenon Spark Industry Gratitude and Debate

In an important move fulfilling his campaign promise, President Donald Trump has granted a full and unconditional pardon to Ross Ulbricht, the founder of the Silk Road darknet marketplace. This decision has been met with widespread approval within the cryptocurrency community, which had long advocated for Ulbricht's release, viewing his life sentence as excessively harsh for a non-violent offense.

Freedom Restored: Ross Ulbricht Pardoned by President Trump in a Landmark Victory for the Crypto Revolution!

In a much-appreciated decision that has resonated positively throughout the crypto community, President Donald Trump has granted a full and unconditional pardon to Ross Ulbricht, the founder of the Silk Road darknet marketplace. This action fulfills a campaign promise made to libertarians and crypto enthusiasts, marking a significant moment in the intersection of digital currencies and governance.

Investor Briefing: Russian Court Judgment in STRABAG Case Heavily Impacting the Austrian RBI!

A recent €2 billion judgment by a Russian court against the shareholders of Austrian construction giant STRABAG, including Raiffeisen Bank International (RBI), has sent shockwaves through financial markets. The ruling, which implicates RBI's Russian subsidiary in a contentious legal dispute with Rasperia, raises significant concerns about the bank's exposure to Russian liabilities amidst ongoing Western sanctions.