rtmark
LearnBonds.com

On-the-run Wirecard executive holed up in Belarus, says report

Wirecard chief operating officer Jan Marsalek

Secretive former Wirecard chief operating officer Jan Marsalek (pictured, far right) has made his way to Belarus or Russia.

Marsalek is a central figure in the collapse of the German fintech payments company, which filed for insolvency last month with debts of €4bn, after the discovery a €1.9bn accounting black hole that auditor EY said was the result of a sophisticated global fraud.

However, Marsalek has vanished in the wake of Wirecard’s implosion. There has been speculation that he was in the Philippines.

An international warrant has been issued for his arrest. German prosecutors regard him as one of the key suspects in a vast fraud that for years inflated the payment company’s balance sheet and profits and helped propel it into the prestigious Dax 30 index two years ago.

Executive’s double life

The 40-year-old Austrian is also reported to have led a complex double life with overlapping commercial and political interests.

Marsalek’s is associated with individuals or networks linked to Russia’s military intelligence directorate, the GRU — the agency blamed for the attempted assassination of ex-spy Sergei Skripal in Salisbury, the covert war in Ukraine, and the manipulation of the 2016 presidential election in the US.

The executive is now a person of interest to three western intelligence agencies, according to officials in three countries reported the Financial Times.

Marsalek travelled to Minsk after Wirecard collapsed last month and may still be in Belarus or Russia, said German magazine Der Spiegel on Saturday, citing travel information it had obtained.

Marsalek arrived in Minsk airport, in the capital of Belarus, at 2 minutes past midnight on 19 June. No departure has been registered in an immigration data bank, the magazine suggested Marsalek remains in Belarus or Russia. There are limited border controls between the two countries.

The exact whereabouts of Marsalek remains a mystery.

Wirecard boss arrested

The former chief executive and co-founder of Munich-based Wirecard Markus Braun was arrested by German police last month on suspicion of false accounting and market manipulation and released on €5m bail.

Braun borrowed €35m from the payment group’s banking arm in January triggering a clash with board members, reported the Financial Times last Thursday.

The former boss was the group’s single largest shareholder, holding a 7% stake worth close to €1bn at the time.

The firm had been fighting whistleblower allegations of accounting fraud for more than 18 months. A forensic audit by audit firm KPMG, commissioned by Wirecard’s supervisory board failed to allay concerns when its findings were published in April.

You can check out a list of recommended stock brokers if you want to invest in stocks

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

Rating

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Roger Baird

Roger Baird is News Editor at Finixio. He has worked as a financial journalist for 20 years reporting on companies, capital markets and the UK economy.