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).
Tag Archives: Jan Marsalek
Our sister site FinTelegram has pointed out many times over the last two years that the German FinTech champion Wirecard has been the financial heart of the international scammer scene. The former Wirecard CEO Markus Braun and his COO Jan Marsalek, for example, have maintained excellent relations with the fraudulent Israeli binary options scammer scene.
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.
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?
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!
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.
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.