Tag: Wirecard

FinTelegram update on high-risk payment processor NomuPayU
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November 8, 2023

Update NomuPay Group: Doing Business With Wirecard Assets!

In December 2022, we conducted an initial review of NomuPay. Whistleblowers informed us that the founder of the now-closed high-risk payment processor Payvision was behind this payment processor, which was launched in 2021. NomuPay took over essential parts of the collapsed Wirecard and is also said to have taken over the business from Payvision. Here is an update on this interesting company.
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Fraser Perring under pressure over voicemailT
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October 24, 2023

The ‘Israel Puppy” Controversy: The Voicemail Saga Of Shortseller Fraser Perring

The financial domain is a theater where reputations can soar to towering heights or plunge into abysmal depths within a blink, especially in today's digital epoch, where information, authentic or doctored, races across the globe in an instant. A recent uproar involving an alleged leaked voicemail by short-seller Fraser Perring of Viceroy Research has catapulted into a tempest of dispute, PayNews42 reports.
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The path to cyberfinance is covered with bankruptcies and trialsT
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October 10, 2023

The Rise, Crisis, Consolidation, And Reboot of the Global FinTech Scene!

The global financial landscape has undergone a seismic shift over the past two decades, with FinTech and cryptocurrencies at the forefront of this transformation. However, with innovation comes challenges, and the FinTech scene has seen its fair share of highs and lows. From the meteoric rise of companies like Wirecard to the subsequent crises faced by crypto giants, the journey has been tumultuous. Here is a summary and a glimpse into the future.
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Money laundering allegations against WirecardF
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September 22, 2023

Former Wirecard Supervisory Board Member Paints A Dark Wirecard Picture In The Munich Trial!

Since the end of 2022, the Wirecard scandal has been under trial at the Munich Regional Court. Witness and former supervisory board member Vuyiswa M'Cwabeni explains why even the Supervisory Board failed to prevent it. Her testimony is partly disturbing, court reporters say. She tells of appeasement, moments of shock and bewilderment. The former Wirecard supervisory board member M'Cwabeni testified in the Munich Wirecard trial.
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Former Wirecard whistleblower Pav Gill about to launch whistleblower platform ConfideF
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September 6, 2023

Former Wirecard Whistleblower Launches Whistleblower Platform Confide

In recent years, the European fintech landscape has been significantly impacted by the Wirecard debacle, a major financial scandal involving questionable accounting practices. Pav Gill, 40, the whistleblower who approached the Financial Times with the revelations, was pivotal in unveiling these malpractices. The former Singapore-based head of legal for Wirecard’s Asia-Pacific region is setting up whistleblowing platform Confide.
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Payvision victims sue Dutch regulator DNBP
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August 28, 2023

Payvision Victims Go After The Dutch Regulator DNB Over Refusal To Support Them!

FinTelegram readers are well aware that through the coordination of the European Funds Recovery Initiative (EFRI), the Dutch payment processor Payvision, now in liquidation, is being sued by victims of scams who made and lost their deposits through Payvision. An investigation conducted by Dutch regulator De Nederlandsche Bank (DNB) confirmed that Payvision supported scams and violated financial laws in the process. However, DNB does not want to make the report available to victims.
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Wirecard Singapore trialW
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August 3, 2023

Wirecard Trial In Singapore Over Falsified Documents And Mission Millions Started!

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.
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Money laundering allegations against WirecardW
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August 3, 2023

Wircard Trial: No Substantial Evidence Against Former CEO Markus Braun!

The Wirecard trial in Munich is expected to extend beyond the initially planned 100 days of court hearings. The court is contemplating the extension of evidence collection until February. As the trial progresses into its first extended break after 58 days, no substantial evidence has been found against the former CEO, Markus Braun, in the alleged billion-dollar fraud case of the DAX-listed company that collapsed in 2020.
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Money laundering allegations against WirecardW
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July 28, 2023

Wirecard Story: Former Supervisory Board Members Are In Court Over Liability Proceedings in February 2023!

The Wirecard story is far from over. Currently, the former CEO Markus Braun and two other executives strand trial in Munich. In early 2024, former members of the Management Board and Supervisory Board of Wirecard will face the claims of the insolvency administrator in a complex directors' and officers' liability proceeding at the Munich Regional Court. The insolvency administrator, Michael Jaffé, has been tasked with collecting money for the Wirecard companies.
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Ulysses House connections in IrelandU
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July 26, 2023

Ulysses House Connection: DPO Pay Received License In Tanzania!

The online magazine PayRate42 News reported that DPO Pay, a Dublin-based payments processor founded in 2006 by Eran Feinstein and Offer Gat, has received approval from the Bank of Tanzania to operate as a Payment Service Provider. In 2021, DPO Pay was acquired by Network International (NI), a Dubai-based payments provider, for $291.3 million. DPO Pay had interesting connections to Wirecard and the binary options scheme GreyMountain Management Ltd (GMM).
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fugitive former Wirecard board member Jan MarsalekF
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July 19, 2023

Fugitive Wirecard COO Jan Marsalek Sends Statement To Court Supporting The Defense Of Markus Braun!

Currently, the former CEO of the collapsed Wirecard, the Austrian Markus Braun, is on trial in Munich. His former board fellow, the Austrian Jan Marsalek, who has been a fugitive since the 2020 collapse of the German payment company, has reached out to a Munich court through his legal representative. This is according to the court and the public prosecutor's office. He reportedly meant that there actually was the controversial third-party acquiring business, supporting Braun's defense.
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SBB CEO Illija BatljanV
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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:
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