Another arrest warrant in the Wirecard accounting scandal

Jan Marsalek

The ex-COO from Wirecard was riddled for days.

Düsseldorf, Frankfurt, Bangkok According to Handelsblatt information, there is a second arrest warrant in the financial services provider Wirecard’s scandal. It is issued in the name of Jan Marsalek, the long-time COO of the Dax group based in Aschheim near Munich. The Austrian Marsalek was released from his duties last Thursday and then dismissed without notice on Monday.

Like the resigned and meanwhile arrested CEO Markus Braun, Marsalek is also suspected of having inflated Wirecard’s total assets and sales volume as a result of pretended earnings, in order to make the company more financially sound and more attractive for investors and customers.

At the center of the investigation are alleged bank balances on trust accounts with two Philippine banks in the amount of more than 1.9 billion euros. Wirecard had issued an ad hoc announcement in the night from Sunday to Monday at around 3:00 a.m. that these bank balances “with a high probability do not exist”.

The Munich I public prosecutor subsequently obtained an arrest warrant against Braun on Monday morning. Braun, who was in Vienna, learned of the arrest warrant and presented himself on Monday evening.

The public prosecutor later announced that he had agreed to cooperate in a first interview. Finally, on Tuesday, the arrest warrant was suspended for payment of five million euros and weekly reporting requirements. In the meantime, Braun has paid the deposit and is now free.

Philippine Ministry of Justice orders investigation

Jan Marsalek is at large or still at large. According to Handelsblatt information, an arrest warrant has also been issued against him. The prosecutor did not want to comment on this. On Tuesday, she said she could neither confirm nor deny this.

Where the manager with the warrant is currently located has not been finally clarified. According to Handelsblatt information, he is very likely to be in the Philippine capital Manila, reportedly from his extended environment. At first, the Süddeutsche Zeitung had reported corresponding assumptions.

Upon request, the Philippine Justice Minister said the immigration database only indicated that Marsalek had traveled to the Philippines on March 3 and left on March 5.

However, there is evidence that Marsalek recently returned to the Philippines and could still be in the country. He had ordered an investigation.

What does Marsalek want in the Philippines? It is said that he wants to get information there that will help clarify the case. Marsalek also intends to face the process in this country. He was not on the run and there was contact with the public prosecutor through his defense lawyer. Neither Marsalek’s defense lawyers nor the prosecutor wanted to comment on this.

As Chief Operating Officer (COO), Marsalek was responsible for the organizational development and day-to-day business of today’s Dax group Wirecard for many years. The 40-year-old came to the former start-up back in 2000. Marsalek has been to Asia many times since then and is one of the most important architects of the business there.

Because of his long tenure, he was considered one of the company’s founding fathers, just like CEO Markus Braun.

In May, his duties were cut as part of a board change. Last week, as part of the worsening accounting scandal, he was released and released a few days later.

Whether Marsalek would voluntarily return to Germany like Braun if he returned voluntarily to Germany, is as open as the question of whether the Philippines could possibly be accessed.

More: A process wave rolls towards the Wirecard tester EY. Investors accuse the auditor of incorrect attestations and a lack of communication.

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