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Jan Marsalek Ex-COO of Wirecard AG – Catch me if you Can

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Jan Marsalek, former Wirecard board member and COO, is sought worldwide and should be on EUROPOL and INTERPOL during this weekend. Catching him should take longer though as the Wirecard man has a lot of cash, contacts – and is unscrupulous enough.

Former Wirecard board member Jan Marsalek may not have been to the Philippines recently. According to the Philippine authorities, the documentation of his entry, after which he arrived at the airport in June, was probably falsified.

Marsalek, who had been on the board of the now insolvent Wirecard AG for ten years, actually appeared to have entered on June 23, according to the documents, and then left the next day. But investigators have reason to believe the data was falsified by the immigration or airport personnel, said Markk Perete, spokesman and sub-secretary of the Philippine Department of Justice. The dates of his arrival were deleted shortly after the entry and Marsalek was not seen at the airport’s CCTV cameras.

Have you seen this Men? Please contact the German Bundeskriminalamt +49 611 550 or the nearest Germany Embassy ONLY.

Have you seen this Men? Please contact the German Bundeskriminalamt in Wiesbaden +49 611 550 or the nearest Germany Embassy ONLY.

As IssanLive reported on July 1, 2020, no flights left Cebu City for any flights to the People’s Republic of China and he could still be hiding in the Philippines or in Eastern Europe.

According to the data, Marsalek is said to have left Cebu airport the following day, a few hundred kilometers south of the capital, to Chongqing in China – on a flight that was canceled. The pandemic travel restrictions would have made it very difficult to travel from Manila to Cebu undetected, officials said as all travelers must also be in quarantine until a negative corona test is available and this could take days.

Wirecard recently had to admit that balances over 1.9 billion euros appearing in the balance sheets “with high probability” did not exist. The money was supposed to be at two Filipino banks, which knew nothing about it. The EY auditors denied Wirecard AG the certificate for the 2019 financial statements last week.

According to informants, Marsalek was responsible for Wirecard’s relationship with three third parties that are at the heart of the investigation. Wirecard claims to have used these partners to process payments in countries where the company does not have a license. Sales from these partnerships made up a large part of Wirecard’s business.

On Friday, one day after IsaanLive released and published documents from an anonymous Investor Group,  the authorities in Singapore announced that they were investigating the Senjo Group, one of the possible partner companies Wirecards and Citadelle Corporate Services for falsifying accounts and operating a fiduciary business without a license.

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Holvi Mastercard temporarily suspended due to Wirecard insolvency

Wolfgang Holzem

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Holvi Mastercard has been temporarily suspended due to recent events in connection with the insolvency of Wirecard AG

How did this happen?

The UK Financial Conduct Authority (FCA) has suspended service for Wirecard Card Solutions Ltd (WDCS) earlier today. WDCS is a subsidiary of Wirecard AG and issues the Holvi Business Mastercard. This decision was taken by the FCA without any prior notice.

What does this mean for you?

All other functions of your Holvi account are still fully available. You can still invoice, receive and transfer funds. Please be assured that all Holvi customer accounts and funds remain safe, secure and accessible at all times – no Holvi accounts have been impacted by this event. This is because all Holvi customer funds are segregated and held in separate accounts in European banks in Finland, Sweden, Denmark, the UK and France.

No customer funds are held by Wirecard AG. Your money and Holvi account are safe.

Your trust is our top priority. We’re actively working on a solution and will continue to update as soon as possible.

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Wirecard Board wants to continue Business in the UK and discussion are ongoing with the FCA

Wolfgang Holzem

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The payment processor struggling to survive a balance sheet scandal Wirecard, continues to do business despite the application for bankruptcy. “The board is of the opinion that a continuation is in the best interest of the creditors,” said the Dax group on Saturday in Aschheim near Munich.

The management board made an application for the opening of insolvency proceedings for Wirecard AG last Thursday.

According to the company, the examination of whether insolvency proceedings will be opened continues.

The business operations of the group companies including the licensed units are currently being continued, it said. It is constantly checked whether bankruptcy applications for subsidiaries of the Wirecard Group must also be made. Group companies, with the exception of a small development branch, have currently not filed for bankruptcy.

The Wirecard Bank is currently not part of the bankruptcy proceedings, the payment transactions of the Wirecard Bank are not affected, the company emphasized. Payments to Wirecard Bank merchants would continue to be carried out without restrictions. They are also “in constant communication with the credit card organizations”.

Wirecard Card Solutions has interrupted business

Wirecard Card Solutions Limited, based in Newcastle, “has interrupted its business due to an order from the responsible Financial Conduct Authority,” it said. However, Wirecard hopes to be able to continue operations in the UK with its current global B2B clients.

Current B2B clients include Payoneer, Hovi, Curve.

Measures for this are discussed currently with both the UK and German authorities.

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Thousand’s of Payoneer Mastercard Holders still Affected by Wirecard UK and can’t Access their Funds in Pakistan Bangladesh & Balkan countries

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Many of Payoneer’s millions of Freelancers have their freelance work paid into the card account, which is easier to open than a bank account in countries such as Pakistan, Bangladesh, Venezulea, Argentina and Balkan countries.

According to reports on Facebook, it is assumed that thousands’ of Payoneer Card holders are still unable to access their funds in Pakistan, Bangladesh and in Eastern European countries. Payoneer card holders within the European Union and certain countries outside the European Union face no restriction and AirBNB Host users are also able to withdraw funds, available on their cards.

Ring-fenced cash

Funds held by e-money firms like Wirecard are not guaranteed up to £85,000 as bank deposits are, although they are held in banks such as Barclays and will be safeguarded.

Payoneer has told customers: “Your funds are being held by Wirecard in a ring-fenced designated account with Barclays. This means in the event of Wirecard going bust you are protected.”

Even so, the FCA is anxious to make sure no money is siphoned off because of Wirecard’s collapse in Germany.

Christopher Woolard, the FCA’s interim chief executive, told the BBC’s Today programme the FCA had “imposed very strict conditions” on Wirecard’s UK subsidiary based in Newcastle, which had knock-on effects for about 70 payments firms, including some firms that operate out of the United Kingdom and the European Union.

Mr Woolard said the FCA had spent the last few days making sure money belonging to people in the UK and the European Union was now safeguarded in UK bank accounts with strict conditions.

The auditor of EB (Ernst & Young) signed of the full accounts made up to 31 December 2018 and according to the official Financial Statement, Wirecard Card Solutions Ltd held 465 million GBP in Customer Deposits.

WCSL has not filed the Financial Statement for 2019, but it is assumed that customer deposits of around 600 million GBP was frozen when the FCA suspended last week’s Wirecard operating in the United Kingdom.

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