The collapsed German fintech’s sacked operating chief went to the extreme – and adventurous – lengths to bamboozle auditors, according to a German report.
Jan Marsalek – recently added to Interpol’s most-sought fugitives list after going AWOL in June – led more than one life: by day, the 40-year-old Austria was the right-hand-man to Wirecard boss Markus Braun. Out of business hours, Marsalek’s manifold commercial and political pursuits included plans for recruiting 15,000 Libyan militiamen, for example.
The 40-year-old Austrian’s lives seem to have overlapped, according to a report in Germany’s Manager Magazin: Marsalek probably duped auditors from EY by hiring actors in the Philippines and setting up sham bank offices when auditors visited to check on 1.9 billion euros ($2.25 billion) of Wirecard’s money, it said, citing a KPMG forensic report.
The billions, of course, are missing, Wirecard is in wind-down, Braun and others are being criminally investigated, and Marsalek dropped out of sight after being sacked eight weeks ago. According to media reports, he may be hiding out in Moscow protected by the GRU, Russia’s army intelligence unit. Marsalek’s lawyer didn’t comment to the outlet.
The Wirecard scandal has spread to German regulator Bafin, which is being sued by Wirecard investors for allegedly overlooking warning signs. Germany’s top finance and economic ministers are also under fire, while lenders like Commerzbank are taking hefty provisions due to their exposure to the Munich-based company.