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Posted on 12/02/2025 4:30:52 AM PST by MtnClimber
The man who once seemed a phantom operating globally could, under maximum pressure, become the key witness who finally brings the entire silence-driven structure crashing down.
The Wirecard scandal had grown quiet recently. Now, former company COO Jan Marsalek, one of the main figures behind the disaster, has resurfaced in another money-laundering scandal.
Five years ago, Wirecard, once the rising star of the German stock market, collapsed in an astonishing accounting fraud scandal. Through a network of shell companies, front men, and alleged money laundering, the company’s executive booked phantom revenues in the billions via a fictitious Asian business. In the end, €1.9 billion appeared in the books -- money that never existed. The damage to investors was enormous.
Billions Lost by Small Investors
The company’s collapse wiped out a stock market valuation of €20 billion. Hundreds of thousands of shareholders -- from retail investors to institutions -- lost their capital. One of the main culprits, the mastermind of the lies, was COO Jan Marsalek.
He is seen as the operational driver behind the fictitious Asian transactions, executed so professionally that even the German financial regulator, BaFin, was caught completely off guard when the scandal broke. At the time, the responsible finance minister was the future Chancellor Olaf Scholz, who reportedly neither recognized nor acted upon the warning signs.
While BaFin was accused of a mix of institutional complacency and possibly political favoritism toward the stock market darling, Wirecard itself was shielded from uncomfortable journalistic scrutiny.
(Excerpt) Read more at americanthinker.com ...
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It seems some national governments operate in a similar manner.
It sounds to me like someone has created a hanging situation for himself.
Germany, France, and the UK are approaching the level of failed states.
“Germany, France, and the UK are approaching the level of failed states.”
Plundered states is more like it.
I will bet every country in Western Europe is cooking its books.
Every, single, sodding country.
Here is some very detailed background information:
https://www.pbs.org/wgbh/frontline/article/jan-marsalek-wirecard-moscow/
A long article that fills in the background.
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