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☆ Lawyer of fugitive Wirecard executive called to testify in court
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Michael Dalder/File Photo Acquire Licensing RightsBERLIN, Dec 1 (Reuters) - A German court has called upon the lawyer of former Wirecard board member Jan Marsalek, who has been on the run since the implosion of the German payments company, to testify next Wednesday in Germany's biggest post-war fraud trial. Wirecard became the first-ever DAX member to file for insolvency in 2020, owing creditors almost $4 billion, after disclosing a 1.9 billion euro ($2.13 billion) hole in its accounts. Marsalek, Wirecard's former chief operating officer, is considered a key figure in the Wirecard scandal and an international fugitive on Europe's most-wanted list. In July he had contacted the Munich court through his lawyer - although neither the lawyer nor authorities disclosed the content of this written communication. A court spokesperson said on Friday that lawyer would now be questioned as a witness in the case.

Persons: Michael Dalder, Jan Marsalek, Wirecard, DAX, EY, Joern Poltz, Sarah Marsh, Leslie Adler Organizations: Wirecard AG, REUTERS, Rights, Thomson Locations: Aschheim, Munich, Germany, Marsalek

☆ Israeli private detective sentenced in US to 6-2/3 years for hacker-for-hire scheme
▼ + stars: | 2023-11-16 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

REUTERS/Michael Dalder/File Photo Acquire Licensing RightsNEW YORK, Nov 16 (Reuters) - A U.S. court on Thursday sentenced an Israeli private detective to 6-2/3 years in prison for organizing global hacking campaigns against thousands of people including climate change activists and critics of German company Wirecard. In sentencing Azari in federal court in Manhattan, U.S. District Judge John Koeltl said the hacking had a "devastating impact" on its victims. "Your Honor, I made a mistake," Azari said in court through a Hebrew interpreter before the sentence was handed down. Prosecutors did not allege any link between Azari and Exxon, which denied any connection to Azari or his hacking campaign. Three victims who spoke in court, including two climate activists, said they still wanted to learn his clients' identities.

Persons: Michael Dalder, Aviram, Azari, John Koeltl, Prosecutors, Barry, Luc Cohen, Cynthia Osterman Organizations: Wirecard AG, REUTERS, District, Prosecutors, U.S, Exxon Mobil Corp, Exxon, Reuters, Thomson Locations: Aschheim, Munich, Germany, United States, Manhattan, U.S, New York, Azari, India

More than a year later, she was told her application required a key document that was stuck behind enemy lines in Ukraine. "There's always a trade-off between rapid and sustainable labour market integration," said Thomas Liebig, chief economist for the OECD's international migration department. Researchers from Minor, a migration policy think tank, said the large-scale inflow of refugees from Ukraine is seen as a great opportunity in Germany. While the refugees' fate is partly tied to the unknowable course of the Ukraine war, the EU's temporary protection scheme for Ukraine refugees is at present due to expire in March 2024. This puts employers who want to hire refugees in a difficult situation, as they don't know if Ukrainian refugees will be able to stay.

Persons: Maria, Lukas Barth, Svetlana Chuhil, Chuhil, Lauren, Thomas Liebig, Oksana Krotova, Krotova, Ildiko Pallman, Gizem Uensal, Enzo Weber, Jan Lopatka, Catherine Evans Organizations: REUTERS, Reuters Graphics Reuters, Deloitte, Reuters, OECD, United Nations, Minor, German Institute for Employment Research, Thomson Locations: Mykolaiv, Ukraine, Aschheim, Munich, Germany, BERLIN, WARSAW, Poland, Zgorzelec, Goerlitz, Paris, Europe's, Berlin, Kyiv, Prague

☆ Wirecard witness admits guilt but pins German fraud blame on ex-CEO
▼ + stars: | 2022-12-19 | by ( Christina Amann | ) www.reuters.com time to read: +3 min

Oliver Bellenhaus, who was head of Wirecard's subsidiary in Dubai, became a key witness in the case after turning himself in to German authorities in 2020. They face charges including fraud and market manipulation and if convicted could be jailed for up to 15 years. Florian Eder, a lawyer for Bellenhaus, told Reuters that the cooperation of his client should result in a "very significant reduction" in his sentence. It was a swindle from the beginning," Bellenhaus told the court, saying he deeply regretted his involvement and the damage it caused. But Bellenhaus told the court on Monday it was "blind loyalty" to Braun, whom he described as an "absolutist CEO", that had landed him in court in Munich.

Companies Wirecard AG FollowMUNICH, Dec 12 (Reuters) - The former Wirecard CEO Markus Braun began his defence in Germany's biggest post-war fraud trial on Monday, as his lawyer dismissed allegations of wrongdoing at the defunct payments company as "absurd" and prejudiced. They said the deception allowed Wirecard's managers to siphon money out of the company for years. "It's an absolutely absurd and erroneous notion that a gang leader would act like this," Dierlamm told the court. Braun's lawyer told the court that the prosecution's key witness was the main perpetrator. Wirecard became the first-ever member of Germany's DAX blue chip stock index to file for insolvency, owing nearly $4 billion.

☆ Wirecard bosses' fraud trial begins after scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +5 min

The trial is taking place in Munich's largest and newest courtroom, a bomb-proof underground hall built in the Stadelheim prison complex. Braun, an Austrian born in Vienna, has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. [1/8] Wirecard's former CEO Markus Braun looks on at a courtroom as his trial begins, after the German payments company collapsed in the wake of a fraud scandal in 2020, in Munich, Germany, December 8, 2022. The fraud let Wirecard managers siphon money out of the company with no proper checks and balances. "All three defendants worked together to make Wirecard appear as an extremely successful FinTech company," said Anne Leiding, a spokesperson for the prosecutors.

☆ Wirecard ex-boss on trial for fraud in scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +5 min

The trial is taking place in Munich's largest and newest courtroom, a bomb-proof underground hall built in the Stadelheim prison complex. Braun has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. [1/7] Wirecard's former CEO Markus Braun looks on at a courtroom as his trial begins, after the German payments company collapsed in the wake of a fraud scandal in 2020, in Munich, Germany, December 8, 2022. The fraud let Wirecard managers siphon money out of the company with no proper checks and balances. Scholz also criticised Wirecard's auditor, EY, for failing to detect the fraud.

☆ Former Wirecard boss goes on trial in fraud scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +4 min

[1/2] Wirecard's former boss Markus Braun listens, ahead of testifying before a German parliamentary committee in Berlin, Germany, November 19, 2020. Braun has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. However, within days, Wirecard became the first-ever DAX member to file for insolvency, owing creditors nearly $4 billion. Following Wirecard's demise, the head of German financial regulator BaFin resigned and the head of Germany's accounting watchdog also stepped down. Scholz also criticised Wirecard's auditor, EY, for failing to catch the fraud.

[1/2] The headquarters of Wirecard AG in Aschheim near Munich, Germany, September 22, 2020. REUTERS/Michael DalderMUNICH/BERLIN, Dec 6 (Reuters) - Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany's biggest post-war fraud scandal and sent shockwaves through the country's political and financial establishment. Wirecard, which started out processing payments for pornography and online gambling, rose to be worth $28 billion and displaced Commerzbank (CBKG.DE) in Germany's DAX blue-chip index. But in June 2020, Wirecard was forced to admit that 1.9 billion euros were missing from its balance sheet. In the ructions that followed Wirecard's demise, the head of German financial regulator BaFin resigned and the head of Germany's accounting watchdog also stepped down.

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