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Wirecard Scandal: Liquidator Reveals Billion-Euro Loss
Five years after its collapse, the Wirecard scandal continues to reverberate: Insolvency administrator Dr. Michael Jaffe revealed in the trial against former CEO Markus Braun that an incredible €1.1 billion was “burned” at the payment processor. While Braun claims in court that a shadow network existed, the main suspect, Jan Marsalek, remains at large, presumably in Russia.
According to calculations by insolvency administrator payment processor Wirecard, which imploded five years ago, burned through €1.1 billion over the years. / Picture: © Wikimedia Commons/ Leo Molatore/ CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)
Five years after its spectacular collapse, the former flagship payment processor Wirecard has burned through an incredible €1.1 billion over the years, according to calculations by insolvency administrator Dr. Michael Jaffe. Jaffe presented this alarming figure as a witness in the ongoing trial against former Wirecard CEO…
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