An arrest order was issued for Jan Marsalek (“Darling Jan”), the former COO of Wirecard. He is supposed to be still in the Philippines. The dust after the collapse has not yet settled and much is not clear at this point. So much is sure!
Breaking News: Wirecard may be related to hacker attacks against critics, short-sellers, and journalists.
The Financial Times’ findings that the German FinTech Wirecard may be related to online attacks on critics are neither new nor surprising. It is well known in the scene that the Austrian Wirecard CEO Markus Braun and his fellow board member Jan Marsalek dig deep into their pockets when it comes to keeping critics quiet through lawsuits, PR campaigns, or social media attacks.
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.
The German public-listed FinTech Wirecard has postponed the presentation of its 2019 annual results for the third time this year. Allegedly, the company’s auditor EY needs more time to finish its work, the company said in a statement last night.
Wirecard Troubles in Germany – Class actions against the company and auditor EY adding to BaFin investigations
Not surprisingly, the turbulent times do not seem to be coming to an end soon for Wirecard. Already 2019 was dominated by accusations of balance sheet manipulation, shabby business practices, and compliance issues which were raised primarily by the Financial Times. Founder and CEO Markus Braun has always strictly rejected the accusations. Wirecard filed lawsuits and criminal complaints against the critics.