Monthly Archives: June 2020

Wirecard in The Philippines and Israeli Connections

Wirecard in The Philippines and Israeli Connections

A lack of funds in the amount of €1.9 billion dragged Wirecard into insolvency, thus causing problems for the company’s auditor EY as well as the German regulatory authority BaFin. The first question to be asked in the first place is whether the funds were ever in Wirecard at all. Most likely not! Another question pops up in this context: Why the Philippines?

R.I.P Wirecard – Cybercrime will miss you! And maybe BaFin too!

R.I.P Wirecard – Cybercrime will miss you! And maybe BaFin too!

For all people familiar with the Wirecard case, the filing for insolvency by Wirecard announced today is no surprise. No surprise at all. Rather expected as the logical result of the endgame that started with Markus Braun’s departure. For sure, the Wirecard Case is far from and will keep BaFin and prosecutors busy. The forensic analysis will most likely uncover interesting facts and connections.

Our  Contribution to Expose the Incredible Wirecard Fraud!

Our Contribution to Expose the Incredible Wirecard Fraud!

Wirecard is a FinTelegram case as well as an EFRI case. Sure, compared to Dan McCrum  (@twitter) from Financial Times and compared to Matthew Earl, Fraser Perring and the other great guys behind the amazing Zatarra Reports, our contribution to the bust of Wirecard is rather humble. Back in 2016 when the founder of Fintelegram met the German Uwe Lenhoff,  who is currently arrested on charges of binary options fraud.

Markus Braun – The Endgame

Markus Braun – The Endgame

In the end, it was just too much! After it became known that Wirecard had refused to grant the EY a certificate because the group was apparently lacking €1.9 billion, the share price plummeted by more than 85% within a few days. The auditor EY and also the German regulator BaFin are under massive criticism for their failure.