When giants fall, they fall fast and loud. And usually cause intense collateral damage. This was also the case with the DAX-listed German FinTech giant Wirecard. At present, the collapse of Wirecard offers the finest popcorn movie. You can literally smell the bad conscience of the German authorities – the public prosecutor’s office and BaFin – because of their omissions of the past.
BaFin
Articles
As already reported yesterday Wirecard has filed for bankruptcy proceedings in Munich as of June 25th, 2020. Guys, we will[read article]
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.
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.
The German regulator BaFin has evidently looked the other way at Wirecard for years. Even when the signs already seemed[read article]
The German watchdog took action in the Wirecard case. It didn’t really come as a surprise when Munich law enforcement agents had the offices of Wirecard‘s headquarters searched last Friday. Previously, BaFin had filed a criminal complaint against Wirecard on suspicion of market manipulation. The investigations by the public prosecutor’s office are allegedly directed primarily against Wirecard CEO Markus Braun and his fellow board members. It currently looks as if Braun’s time as CEO will soon be over.
Wirecard Hunting: Chasing former COO Jan Marsalek and James Henry O'Sullivan
1
Investor Warning - The Israeli EZInvest, WGM Services, the SEC Penalty, a Bulgarian Connection, and the CySEC incompetency
2
WireCard Issue in Ireland - How binary options scheme operator GeyMountain Management became a related WireCard company
3
BaFin under massive pressure for failing badly in the Wirecard fraud case
4
Wirecard was run by a criminal organization? Sure it was!
5
Recent Comments
it's a consolation to us, victims of fraudulent business online. Must take a class action against #wirecard and Anydesk program developer for the use of their
Elfi it’s Edwin, contact me on this as we are involved in this as well in the US.
[…] money laundering complaints with the authorities in Germany. #Wirecard went bust by now, pls read here for more details on our contribution to the
[…] money laundering complaints with the authorities in Germany. #Wirecard went bust by now, pls read here for more details on our contribution to the
[…] money laundering complaints with the authorities in Germany. #Wirecard went bust by now, pls read here for more details on our contribution to the