Surprise, Surprise! The Wirecard madhouse was run by a criminal organization, says the German public prosecutor on July 23, 2020. he public prosecutor’s office has allegedly been able to confirm and support these statements with facts. Consequently, the former managers Markus Braun, Burkhard Ley, and the former head of accounting were arrested. The former COO, the Austrian Jan Marsalek remains on the run. But Wirecard is not the only payment processor with close connection to cybercrime and money-laundering.
Wirecard Madhouse – Braun arrested again; Phony merchants, a porn baron, marijuana, and transaction laundering
In March 2020, the German payment expert Ruben Weigand and the so-called “porn baron” Hamid “Ray” Akhavan have been arrested in California on charges of running a global money-laundering scheme. The center of this scheme is one of the largest on-demand marijuana marketplaces in the US, Eaze Technologies Inc. Both pleaded not guilty but remained in custody at a jail in California. Both have already been involved in the mega-money-laundering scheme of FBME Bank. And yes, there is a rather close connection to Wirecard. Consequently, Markus Braun war arrested again today.
Suddenly everyone is wondering. Suddenly, information about Wirecard’s strange business practices appears everywhere. The involvement of the DAX-listed Wirecard as a payment processor in high-risk businesses such as porn, gambling, or online trading but also the support of illegal and fraudulent transactions such as binary options or marijuana trading are suddenly accepted reality.
The Wirecard case literally gets crazier by the minute. Continuously, we are fed with rumors of ever more fantastic or criminal activities in which the German DAX company and its responsible managers are said to be involved are spreading.We have recently heard that a raid was also carried out on Wirecard’s offices in Dublin, Ireland. Apparently also due to a money laundering report by the European Funds Recovery Initiative (EFRI).
Jan Marsalek has been dominating German media outlets over the last couple of days. The work and disappearance of the Austrian Jan Marsalek hasvebeen a central topic. As Chief Operating Officer (COO) of Wirecard, Marsalek is said to have been the person actually responsible for the day-to-day business. The 40-year-old manager is said to be a mystery. He has no formal education, no high school diploma, and no university degree. He is said to have started his career at the age of 20 and to have built Wirecard’s spider’s nest in recent years.
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.
Protective German Prosecutors – Markus Braun released with €5 million bond while selling shares for €155 million
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.