Search results: Wirecard

After the collapse of Wirecard, ex-CEO Jan Marsalek made a spectacular escape. Since then, there has been speculation about whether he is still alive....

Michael Jaffé has tried to trace the disappearance of €1.9 billion at Wirecard. He found no evidence of corresponding transactions. In a status report, he comes to a clear conclusion. According to new findings by insolvency administrator Michael Jaffé, Wirecard's business with alleged partners in Asia was wholly fabricated.

Wirecard had commissioned the special audit when doubts about third-party transactions in Asia became known. The company collapsed in June 2020! Allegedly, the former Wirecard board led by Markus Braun had effectively blocked a special audit of the payment processor, according to auditor KPMG.

The German subsidiary of the big four auditing firm EY must wait to undertake new audit mandates with public interest groups for two years. In addition, the state supervisory authority APAS imposed fined for EY and involved auditors.

The former CEO Markus Braun denies allegations of fictitious transactions. In the Wirecard trial, Braun is accused of billion-dollar fraud.

The most spectacular fraud in German economic history is the Wirecard bankruptcy. The main defendant is former CEO, Markus Braun. On the other hand, one of the prominent masterminds of the scandal, Jan Marsalek, is living comfortably in Russia.

When the Wirecard trial begins on December 8, the main question will be: Who is responsible for the scandal? Markus Braun, the long-time chief executive officer (CEO) of the Wirecard Group, and Oliver Bellenhaus, the managing director of a Wirecard subsidiary in Dubai, will have to answer critical questions!

When Commerzbank terminated the account of the porn company Manwin, Wirecard was on the spot. The German fintech did business with the porn industry for longer than ex-CEO Markus Braun portrayed it to the outside world. Wirecard found its first customers in the gambling and porn industries. Over the years, however, long-time CEO Markus Braun tried to shed the smut image of the early years as best he could.

German regulator BaFin is parting ways with its executive director Beatrice Freiwald after a months-long legal dispute. The supervisor is leaving "by virtue of a decision by the German government as a member of Bafin's board of directors," the authority announced on Tuesday evening.

According to the latest FinTelegram report, Wirecard was a local German payment processor until 2007. The international take-off started with the acquisition of Trustpay International AG and the two payment veterans Ruediger Trautmann (2005) and Dietmar Knoechelmann (2006). Wirecard acquired companies from them in complicated and secretive transactions, creating a huge international high-risk payment volume. Here is the story of Wirecard's internationalization.