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Scorched EARTH

Scorched earth - Marsalek is creaming

Isaan News sources report that everything was and is prepared well in advance. The former CEO Jan Marsalek, the brain of WireCard and his equally intelligent Adlatus Markus Braun, (have) - has probably registered hundreds of mailbox companies worldwide and has them ready for day X, which has now arrived as planned.
His escape with a private jet, paid for in cash, via Austria to Russia, was prepared, the private jet was ready for months. The bankruptcy didn't come suddenly either, anyone who observed the market could sense that something was wrong with Wirecard. There was or is simply no DAX company that became wealthy so quickly. Only our "smart" heads like BaFin and the Ministry of Finance didn't want to notice anything, because gambling with Wirecard shares was a million dollar game. One could actually claim it was the most intelligent kind of bribery, cleverly engineered by Jan Marsalek. Only he knew what profits were made with gambling.
The brain, or rather the team of four, the WireCard tip, knew everything and waited for the sign from Marsalek to turn a very intelligent mechanism into To set movement. Press reports were deliberately distributed, WireCard was written and driven into bankruptcy. An insolvency administrator could be used although one cannot be sure whether Marsalek had prepared this one too.
The "Scorched Earth" process was set in motion
It is clear that the rapid smashing of the "broke giant" at any price was planned. The software development group in India had already been outsourced. after Like in post-war Germany, the rapid upswing is coming back to "Scorched Earth" and for that you needed the common people, the software developers. Marsalek certainly has "studied" all of this, the economic boom, the economic miracle of our former German Chancellor Ludwig Erhard. Ludwig Erhard, probably the first and only capable politician that the new Germany produced. "Then came Jan Marsalek" and his eloquent friend Markus Braun.

Auditors like E&Y or KPMG came at the right time. It is common knowledge that these auditing firms really do not audit anything, but with young 25 year old university graduates, only able to do a superficial examination, these greats like Jan Marsalek have certainly not grown. Jan Marsalek is certainly not the only intelligent person, there are many across the globe. Billionaires, oligarchs, celebrities, etc.
Marsalek is based in Russia, safely protected by his friends and is expanding his empire anew. He uses front companies in which he has influence to buy up the "serioes". Serious or those who play serious, banks like Deutsche Bank that have withdrawn from a purchase, clearly, the bank has recognized who is behind the whole thing and can certainly not create another scandal.
We just have to be patient, the first "WireCard project" took over 10 years to build, with his billions safe in the (offshore) bank, he has time Infinite time, more than all the cheated investors and investors who dream of getting something out of the bankruptcy estate. Keep on dreaming, Jan has time.
Yes, the investors and groups of investors who have come together to file a class action lawsuit against WireCard. They lose even more because the lawyers lose some to support this hopeless endeavor get their costs, certainly not from the bankrupt Wirecard.
Isaan News Reporters know the investment market, know the IT strategies behind it, have known the IT security that does not exist for many years, IT security which not even our "progressive" government has.
Then there is also Markus Barun , the number two in the brain, the speaker who has attracted all these simple investors with his clever speeches. Congratulations Markus, you made it, you showed your former colleagues what investment banking really means, billions in your own pocket.
Yes, he must have made himself voluntarily, an extraordinarily skilful and planned move, why? Certainly not because he is guilty, because Markus is also a very intelligent one Contemporary, would never have "posed" if he were really vulnerable. So why? it's pretty clear. Jan Marsalek needs as much inside information as possible and Markus Braun, after he has given himself up, is right in the middle of it. Markus Braun, the manipulator can easily outshine hundreds of so-called BKA investigators. He's being interrogated, at least that's what the investigators believe, but thanks to his super skillful manipulation of statements, he gets the news first, so he can get the information exactly the investigators without them noticing anything. How are the investigators supposed to notice anything, they don't even know what to look for.
Attempts are made to intimidate him with arrest warrants, with orders that actually have nothing to do with the Wirecard scandal, charges of allegedly moving private assets abroad. The prosecutor couldn't think of anything better - any mediocre lawyer knocks him out of it. But Markus Braun plays with what a better opportunity to get out to find what the investigators actually know and an even better way to pass all this information on to buddy Jan.
What can be determined? As we know, Wirecard was and is the world's first fully digital payment machine. Everything stored on computers and data servers. There is no paper. Other important information is stored in the developers' laptops in India. So what does the public prosecutor's office claim to have come from the office raids in Aschheim? Certainly only on useless office PCs of the employees who have managed their private emails or surfed the Internet. By the way, some information that should interest the "smart" investigators, the data storage at WireCard took place on a modern blockchain platform. So sure that not even the most dangerous hackers could get hold of, especially not German specialists. As an aside, the prosecution did Munich wasn't embarrassed 10 years ago when this one an investigation into money laundering by Wirecardbank had to stop. That was probably Jan's test run!
Jan Marsalek, is a real genius and is also the god, the child prodigy of the German financial world, but unfortunately not in the way he was celebrated by our political greats.
Isaan News stays on the ball. Read our website regularly. A new website is under development, a website showing the latest developments in IT security, investment banking, hacker attacks, failures and especially the successes, developments of a pointless digital ministry and much traced more from the world of business

Individual Reports follow

Wirecard - bribery

Wirecard manager tried to bribe inspectors from EY

A secret additional report by the auditing company KPMG shows inconsistencies in India. EY defends itself against the allegations.
In the scandal surrounding the balance sheet falsification at Wirecard, new allegations are made against the insolvent payment service provider and its auditor EY raised. According to this, a Wirecard manager attempted to bribe an Indian employee from EY in 2016. Apparently it was about the suspicion of bloated Curb sales at the purchased Indian subsidiary Hermes i-Ticket.
Insiders confirmed to the Handelsblatt on Wednesday that there had been such an unsuccessful attempt at bribery. Isaan News comment, as India connoisseurs we have there are considerable doubts about the bribery and the attempt to ward off it. So a small success bonus in these countries is not to be understood as bribery!

Wirecard - Cruise and KFW

WIRECARD SCANDAL WITH CONSEQUENCES: KfW now has a problem child

A KfW subsidiary had given the scandalous group Wirecard a credit line of 100 million euros. The big credit now has the Frankfurt Public Prosecutor's Office called on the scene.
The damage to the taxpayer is likely to be substantial. The KfW subsidiary Ipex-Bank has the scandal group Wirecard for the first time a credit line of 100 million euros Granted September 2018 and renewed one year later. When the payment service provider had to file for bankruptcy, the loan went bad and quickly to one Such cases a specialized financial investor called Trinity Investments resold - at normal market conditions, as it is called in financial circles. That means: you save by fighting together with other hedge funds for the largest possible shares from the liquidation of the bankruptcy estate. But you do without a high price discount also to 80 percent or even more of the original requirement.
The large loan has now also called the Frankfurt public prosecutor's office to the scene. Without giving the name of the bank, she confirmed that she was investigating Responsible because of the initial suspicion of infidelity. Background should be that the Ipex-Bank the loan despite the substantial allegations of fraud against Wirecard without taking any security measures. In the case of large loans, banks often protect themselves against complete failure by For example, they immediately resell part of the claim, conclude a default policy or counter-deals.

Greetings from Bad Voeslau

Jan Marsalek + Austrian secret agents

On the evening of June 18, some people thought Jan Marsalek was on the way to Moscow. The fleeting ex-Wirecard board member was still sitting with an Austrian Ex-agents in Munich at the Italian. Was the escape planned there?
The man who got out of the taxi at the private airport Voeslau-Kottingbrunn in the early evening of June 19 had nothing more with him than a suitcase and a duffel bag. D. he airfield, 35 minutes by car south of Vienna, is small and discreet. If you turn off the autobahn, you drive through an industrial park, then curves through a few hundred meters of green land. Then a tower, a couple of hangars, a small restaurant. A place where visitors rarely get lost. Actually nobody gets lost here, it's a well-known one Location of the secret service where machines take off and land that are not necessarily planned or of public interest. Nothing was planned that evening, a planning was carried out. The Austrian secret service? Chancellor Kurz had nothing to say about this.
Before he fled, the Wirecard manager met with former Austrian secret service agents in Munich . Then he flew from the Vienna area to the Belarusian capital. There his track is lost.
It is the most spectacular escape in years, and yet it was not yet clear when and how Jan Marsalek, the former board member of the insolvent, would go Payment service provider Wirecard, from Germany. Research by the Sueddeutsche Zeitung now shows that Marsalek is a private jet from an Innsbruck charter company and flew on the evening of June 19th from Voeslau-Kottingbrunn airport near Vienna to Minsk, the capital of Belarus. There is lost after the almost two-hour flight at 11 p.m. local time. Marsalek is said to have paid the flight costs in the amount of about 8,000 euros in cash.
There is a lot to suggest that Marsalek traveled on from Minsk to Russia. The manager cared for former members of the Russian military and intelligence officials supposedly good contacts.
So far it has been reported repeatedly that Marsalek had fled on June 18, after he was on leave from the Supervisory Board in the afternoon at Wirecard headquarters in Aschheim has been. Marsalek met up with confidants that evening in an Italian restaurant in downtown Munich. Among other things with a former head of department the Austrian domestic secret service, the Federal Office for the Protection of the Constitution and Terrorism (BVT). Until four years ago, the former spy was in Department 2 of the Intelligence service and was responsible for the areas of extremism, terrorism, counter-espionage, proliferation, breaches of sanctions and illegal trade with War material. The ex-agent is said to have worked on Wirecard projects together with Marsalek after leaving the authority. On specific questions, including whether he Marsalek helped with his later escape, the attorney of the former BVT official refused to comment.
Meanwhile, the auditing company EY, which is responsible for Wirecard, is increasingly in trouble. In April 2020, the competitor KPMG had the results of a Special audit published, which ultimately helped to uncover the years of fraud at Wirecard. As it now turns out, were then the board of directors and the board of directors hand over further results in a so-called information volume. In this appendix, which is available to the SZ, the KPMG auditors report from an EY employee who is said to have warned as early as 2016 that executives at Wirecard could be involved in fraud and that there should have been an attempt to bribe.
These allegations weighed heavily and led to a forensic investigation called "Project Ring", which, according to KPMG 2018, was carried out prematurely by the now fleeting ex-board member Marsalek had ended. There was no final report at the time. The findings of the investigation in the 2017 annual financial statements are also insufficient has been taken into account. EY denies the allegations that everything was correctly documented at the time.

Who wants Wirecard?

28. September 2020, 3:44 p.m. Sale of the scandal group

New machinations from Wirecard come to light on a weekly basis. That doesn't make selling the company any easier. Which interested parties are still left.
The email that was sent to the remaining employees of the bankrupt Wirecard companies shortly before the weekend should give encouragement. Insolvency administrator Michael Jaffe wrote that they were in "intensive and constructive negotiations with three international interested parties or interest groups" for the core business of the Wirecard AG. As many as possible of the remaining jobs at the group headquarters in Aschheim near Munich are to be retained after the sale. Jaffe did not mention the names of the interested parties, but they can be heard from Wirecard circles. Is it some of Jan Marsalek's mailbox companies?

KPMG and E&Y bribery ...

KPMG accuses EY of failing at Wirecard.

Of all people, the EY leadership warned of fraud at Wirecard as early as 2016 (Isaan News warned in Singapore in 2016!), but the notice apparently never sent out. Explosive: This information probably comes from KPMG. EY fights back.
Wirecard's final examiner EY comes under heavy pressure again. According to an article in the "Financial Times" (FT), EY was already warned in 2016 about fraudulent activities at Wirecard - and not from some unknown whistleblower, but from one of our own employees. As the FT further reports, a senior Wirecard employee is said to have tried to get one Bribing EY auditors.
According to the FT, this information comes from a previously unpublished appendix to KPMG's special report. The 74-page special report was released in April and was reportedly after already under high pressure on the part of the Wirecard management soft-flushed. Nevertheless, he got the ball rolling, which ultimately resulted in the exposure of the accounting scandal in June. Even more explosive information than in the report itself can apparently be found in the 61-page appendix to the special report that the "FT" has before us. In it, KPMG throws the test colleague of EY failures, writes the newspaper.
Employee wrote a letter to EY leadership
As the FT quotes from the KPMG report, the unnamed EY employee is said to have written a letter to the headquarters of EY Germany in Stuttgart in May 2016. In it, he denounced the purchase of the three payment service providers Hermes i Tickets, GI Technology and Star Global. At the seller - a company called Emerging Market Investment Fund 1A in Mauritius - senior Wirecard employees are said to have held shares and were thus involved in a conflict of interest.
These deals were considered dubious from the start because of the astronomical purchase price. As the FT now writes, the whistleblower EY declared even then that the profits of the Indian Companies have been artificially inflated to drive up the purchase price. A Wirecard manager who held a leading position at Hermes should also be one have offered local EY auditors a "personal compensation" if they certify the numbers. There are also allegations of non-transparent transactions in deals in India in a short-seller attack by the "Southern Investigative Reporting Foundation" again - but not until 2018.

Damage to reputation in the case of Wirecard?

BALANCE SHEET SCANDAL Auditors fear reputational damage from the Wirecard case

The President of the Chamber of Public Accountants warns against introducing excessively strict rules after the Wirecard scandal. The consequences could spread to the entire profession. Isaan News Comment: The consequences might be that auditors finally hire specialist staff, senior consultants and take care of the actual task and not only determine the success in euros / hour.
The debate about the auditing company EY in the Wirecard case is now affecting the entire auditing industry. "The Wirecard case and the alleged failure of EY must not lead to the fact that all other auditing companies are shorn of the same brush, "said the President of the Chamber of Auditors Gerhard Ziegler the Handelsblatt. First the diagnosis comes, then therapy can take place, said Ziegler.
The request to speak is unusual. The approximately 3000 auditing companies in Germany with their 29,000 auditors are considered to be an absolutely secretive (society) profession, who is not looking for the public. The Wirecard case and the failure of the EY auditors could change that.

KFW Scholz Altmeier

The team of three and KFW - Minister of Economic Affairs Altmaier is head of the KfW Board of Directors, of the State Bank Supervisory Board; Finance Minister Scholz is his deputy.

It is about the suspicion that a 100 million loan could have been granted without sufficient collateral. The Wirecard affair is for finance ministers Olaf Scholz and for the Federal Government annoying enough, but now there is even more anger. Not only for Scholz, but also for W Economics Minister Peter Altmaier. The latter is head of the board of directors of KfW, the supervisory body of the state bank; Scholz is his deputy.
The KfW subsidiary Ipex-Bank had lent the Wirecard Group 100 million euros, the money is gone, and the state bank now has the police and the public prosecutor's office in-house. On request, a KfW spokesman confirmed that "the police and the public prosecutor's office in the business premises of KfW Ipex-Bank are investigating our financing for Wirecard have carried out ". KfW did not provide any details. > br> The Frankfurt public prosecutor's office is investigating the suspicion that the 100 million euros could have been lent by KfW subsidiary Ipex without sufficient collateral. If this assumption is correct, this could prove to be misappropriation of KfW's assets. The prosecutor said they were investigating those responsible at a bank in Frankfurt. It is about the initial suspicion of infidelity. The institute is accused of granting Wirecard AG a credit line of 100 million euros in 2018 and this in 2019 To have extended without taking out any hedging transactions to protect against losses. The Frankfurt Public Prosecutor did not mention the name of the bank. That KfW is meant, but there is no doubt about that.
A new raid on Wirecard's corporate headquarters in Aschheim near Munich on Tuesday also involved the Frankfurt investigation. In addition, the public prosecutor was looking for Muenchen I (quite hopelessly as reported above after further material for their Wirecard procedure, which is now also about money laundering.
The Munich prosecutors suspect the old executive board around CEO Markus Braun and the hiding Jan Marsalek, banks and other financiers around one To have cheated billions. Braun is in custody, he denies all allegations. Bank managers who are suspected of being defrauded could themselves be made liable to prosecution if loans would have been granted without the required collateral. This also applies to KfW.
The Wirecard loan is not the first mistake at KfW
Scholz and Altmaier now have to prepare for new anger in the Bundestag, which has already set up a committee of inquiry into the Wirecard affair. The key question in the KfW matter is: How can it be that the state banking group extended the credit line for Wirecard AG in 2019, which was already due to the Suspicion of irregularities was publicly heavily criticized. Especially since that was not KfW's first mistake in the past ten to fifteen years. Is the state bank, which is 80 percent owned by the federal government and 20 percent owned by the federal states, not adequately controlled? The Board of Directors headed by Altmaier and Scholz mainly include representatives from the federal government, the federal states and business. At least since the beginning of 2019, when the British newspaper Financial Times revealed more and more strange events at Wirecard, the payment service provider has been vehemently criticized. The German financial regulator Bafin did not take action against Wirecard, but against FT journalists. Whether other authorities in addition to the Bafin also failed in the Wirecard case and which ones The committee of inquiry in the Bundestag should clarify the consequences for the financial supervision. The committee will now presumably also deal with the events of the KfW and take care of their control.
In 2019, the state bank would have had enough time to save the 100 million euros. Wirecard obtained 1.4 billion euros from investors in autumn 2019 and thus loans with the house banks in the amount of more than one billion euros are temporarily repaid. The house banks consisted of a consortium of 15 financial institutions Germany and abroad, to which KfW was not one. Their credit was extra. The banking consortium, including Commerzbank and Landesbank Baden-Wuerttemberg, lost a total of 1.6 billion euros at Wirecard.
Several institutes, including KfW, have now sold their claims on Wirecard to a company called Trinity Investments from Dublin. The KfW subsidiary Ipex has Far from getting 100 million euros from Trinity. Financial firms like Trinity buy up such claims with high discounts and hope that money will flow back after all or claims for damages are successful. So far, the state bank has not wanted to say how big the discount for Trinity was in the case of KfW's 100 million claim. about the "concrete As usual, the terms and conditions for such sales were agreed not to disclose, "KfW declared at the end of August.
Since the bankruptcy of Wirecard AG, insolvency administrator Michael Jaffe has tried to raise money for the creditors by selling parts of the group. The 3.2 billion euros, which Wirecard had borrowed from banks and investors, but were far from coming together.

Don't forget! the WireCard Question catalog!

Can a candidate for Chancellor be so "inept" or has he knowingly violated his own orders?

More Isaan News - More Isaan News - on BaFin and Olaf Scholz, Jan Marsalek and the Criminal Club
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Under Investigation
BaFin and the Wirecard fraud
Olaf Scholz on July 17th, 2020 in the middle of it
Scholz Knew about the entire WireCard since February2019-but Jan Marsalek was the Darling of the Nation and everybody needed to protect his millions!
Scholz knew a lot more