Lithuania-based payments company UAB Finolita Unio is suspected to have stolen over €100 million from Wirecard weeks before the company collapsed.
Some of the money is believed to have been channelled to Wirecard’s ex-chief operating officer Jan Marsalek, who is currently on Interpol’s most-wanted list after fleeing before the company filed for insolvency, according to a report by The Financial Times (FT.)
The 40-year-old Austrian national is regarded as a central figure in the alleged accounting scandal.
He disappeared in June, shortly after Markus Braun, the former chief executive of Wirecard, was arrested in Germany on suspicion of falsifying company revenue when auditors uncovered a €1.9 billion black hole in the company’s accounts.
Documents seen by the FT show that the Lithuanian FinTech appears to have processed some of the money that was siphoned off prior to the company’s collapse.
People familiar with the investigation told the newspaper that German prosecutors are currently looking into the matter and have been in touch with Lithuanian authorities.
They suspect that part of a €100m loan granted by Wirecard in March 2020 to a subsidiary of the FinTech’s owner, and processed by the Lithuanian company, was secretly passed on to Marsalek.
Latest News
-
UBS appoints chief AI officer to boost AI strategy
-
HSBC rolls out acquiring platform
-
Frasers Group uses ACP to complete direct purchases within genAI chatbots
-
BBVA’s bid for Sabadell collapses as chairman Carlos Torres vows to stay
-
Deutsche Bank, ING and Santander join Mastercard cyber defence exercise
-
Santander to merge Openbank and Santander Consumer Finance
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories