Despite a global pandemic unraveling in 2020, the executives of Europe’s largest fintech company Wirecard, found themselves in precarious positions. The Company’s CEO Markus Braun was arrested for masterminding an intricate embezzlement scandal, a key executive was reported dead in the Philippines, and the COO became a wanted fugitive. Hear how the “Enron of Germany” went from being a national pride to a national shame on Episode 25 of The Great Fail.
Episode Sources:
Wirecard files for insolvency amid German accounting scandal
Wikipedia: Wirecard scandal
Timeline: the Rise and Fall of Wirecard
Wirecard: the timeline | Free to read
Markus Braun : Storyteller Behind Wirecard’s Rise and Fall
Wirecard: Scandal-hit firm files for insolvency
Wirecard committed ‘elaborate and sophisticated fraud’ say auditors
THE LESSONS FROM THE IMPLOSION OF WIRECARD AG
‘The Enron of Germany’: Wirecard scandal casts a shadow on corporate governance
Wirecard’s case is another extreme example of corporate fraud
WIRECARD SCANDAL PUTS SPOTLIGHT ON EY; TWO OBVIOUS FRAUDS
In a German Tech Giant’s Fall, Charges of Lies, Spies and Missing Billions
Philippines Confirms Death of Ex-Wirecard Executive Bauer
Wirecard business partner reported dead in Philippines
Whistleblower warned EY of Wirecard fraud four years before collapse
The Man Who Could Explain the $2 Billion Wirecard Mystery Is Missing
Special Guests:
Dr. Marc Liebscher, LL.M.
Attorney Dr. Marc Liebscher, LL.M. (Washington, DC) specializes in banking and capital markets law, as well as bankruptcy and corporate law. He advises national and international clients in these legal areas and has extensive experience in the judicial enforcement of claims in legal proceedings.
On December 15, 2020 Dr. Liebscher, representing a large number of Wirecard investors, filed a criminal complaint against Wirecard’s auditors Ernst & Young (EY), accusing EY of missing the alleged fraud.