Tag: Wirecard

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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Markus Braun stands trial in the Wirecard storyI
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April 21, 2023

Interesting: The Wirecard Porn Merchants Are Part Of The Defense Strategy In Wirecard Trial!

In the last days of the Wirecard trial, former Wirecard CEO Markus Braun footed his defense on merchants still considered "big players" in the porn sector. However, their business was not handled by third-party partners in Asia but by Wirecard itself or so-called "white label acquirers" from Europe with whom it had business ties. This is shown by several internal merchant lists with more than 8,000 (!) porn websites listed.
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Wirecard trial defendant Henry O'Sullivan and Jan MarsalekT
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March 14, 2023

The New Main Suspect In The Wirecard Trial!

Financial Times called James Henry O’Sullivan a hard-partying Englishman. The German prosecutors in the Wirecard trial claim that he was part of the Wirecard fraud scheme in Asia. Allegedly, O’Sullivan cashed hundreds of millions of euros from Wirecard. In Singapore, the 48-year-old faces charges of abetting the falsification of documents, including papers to persuade Wirecard’s auditors EY that the company had extensive cash reserves, which it hadn't.
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Money laundering allegations against WirecardB
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March 5, 2023

Breaking: Former Wirecard Shortseller Was Allegedly Threatened By Law Firms And Kroll!

Matthew Earl is a founder and fund manager at ShadowFall (www.shadowfall.com), a hedge fund focusing on short-selling. The collapsed Wirecard used to be one of the short-seller's targets, The Guardian reports. Allegedly, he was intimidated by private investigations company Kroll on behalf of their client Wirecard. According to a legal claim brought by Earl, Wirecard's law firm, Jones Day, carried out a “campaign of unlawful harassment” together with Kroll to intimidate him and his family.
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Markus Braun stands trial in the Wirecard storyW
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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!
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Wirecard with Krores Dietmar Knoechelmann and Ruediger TrautmannS
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February 15, 2023

Scandal: Old Money Laundering & Fraud Complaint Against Wirecard Unearthed!

On March 4, 2010, the Munich I Public Prosecutor's Office received a report with a lot of explosive power that could have an impact on the current Wirecard trial. "Criminal complaint for money laundering in the billions against Wirecard AG, Management Board Markus Braun," is the (translated) title of the new complaint, the Austrian Kurier reports. It states that Wirecard's entire business model "is based on the processing of highly profitable but illegal transactions."
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