The Double Life of Wirecard’s Fugitive Executive

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German payments company Wirecard was the darling of the nation's fintech industry. Then came the admission that almost $2 billion of the company’s funds had gone missing. The scandal led to the sudden disappearance of its chief operating officer, Jan Marsalek. With his mysterious links to the Austrian secret service and Russian mercenaries, Bloomberg investigates the role Marsalek allegedly played in one of Germany’s biggest accounting scandals.
#Storylines #BloombergBusinessweek #Wirecard
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Опубликовано:

1 фев 2021

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Комментарии : 638

@barfymann362 3 года назад

Turtleneck = Check Self inflated ego = Check Scam = Check

@likemysnopp 3 года назад

he needs some red glasses and then it would be perfect

@tehonlynoobs5556 3 года назад

why every high level scammer always try look like steve jobs example : theranos

@lilDaveist 3 года назад

Hotel? Trivago

@SvenPiper 3 года назад

Every time Germany or a German company is in deeply in trouble, an Austrian is not far.

@CraZy291 3 года назад

bruh

@NPJGlobal 3 года назад

as if germans were perfect...

@carolinevs943 3 года назад

What

@kianag6692 3 года назад

Ich finds lustig xD

@blackhans9853 3 года назад

@@kianag6692 recht hat er... wir lernen auch nichts dazu

@WaterWheel360 3 года назад

"The key player were Austrian" Well well well, where have I heard that one before?

@jupiterjones3789 3 года назад

Totally inappropriate and my first thought at the same time

@CAL-zq3dk 3 года назад

Also Germans trying to deflect their involvement.

@jankoss6429 3 года назад

His name on his passport is Jan Maršálek. I am sure he was not born in Austria. That is Czech name. He could not have so spelled name, if he was born in Austria.

@vonbayernDE 3 года назад

@@jankoss6429 jan is common first name in czech.

@pppinto97 3 года назад

What is "Austria" supposed to mean? Are they REPEAT OFFEDERS?

@Vic4ful 3 года назад

Client: Ok take a look at my books KPMG: mmmmm but you are missing almost $2bil Client: *HEY YOU'RE NOT SUPPOSED TO DO THAT*

@Ab_A60 3 года назад

😂😂😂

@MrAdhito 3 года назад

😂

@user-ju2cd3du9i 3 года назад

Once again Germany is blamed for the actions of someone from Austria 🇦🇹

@farticlesofconflatulation 3 года назад

Build that wall! 🧱 😂

@lonyo5377 3 года назад

The German regulators were not at all inclined to investigate the company despite media reports. They attacked them instead. The German regulators failed.

@full-timepog6844 3 года назад

@@lonyo5377 just like last time. SMH.

@ja2688 3 года назад

@@lonyo5377 A number of members of BaFin (Germany’s regulator) were found to have owned Wirecard stock pretty clear conflict of interest. So no wonder they were not that keen on investigating.....

@maxmustermann5492 3 года назад

Don‘t blame Austrians for the failure of german people/authorities etc... Interestingly these kind of things happen in Germany, not in Austria, France or Italy after all... However it‘s quite funny yes 😅

@sanjeays 3 года назад

How could something like this happen in developed markets like Germany? And EY needs to be investigated as well.

@XBlomborX 3 года назад

Its not like comparable stuff also happend in the US right?

@wow35master 3 года назад

conspiracy theory..they killed him to cover their asses

@sanjeays 3 года назад

@@XBlomborX I'm from South Asia, this is not news if it happened in our region. But in EU?? Also even for us US is just another 3rd world country wearing a Gucci belt with nukes 🤣

@johnl.7754 3 года назад

Probably since much of its revenue was supposedly from the other side of the world

@TheSar 3 года назад

EY are more crooked than the people they audit. I've been in the room with their 'auditors' many times - often straight out of Uni, no idea what they're doing and just following a script to tick a box. Ridiculous.

@gazunkafonegazunkafone3492 3 года назад

The FT story uncovering all this is so much more interesting. German state funded investigations into journalists in the UK for daring to suggest wire card was fraudulent. This story would never ever had broken if it wasn’t for the FT.

@artursvancans9702 3 года назад

EY say they are victims? Man, it was your job to audit. I call bullshit.

@MikeBenko 3 года назад

Let's be honest here, this entire story is just another to be added to the long list of "Why the big 4 auditors are complete pointless bullshit".

@welm98 3 года назад

NOT TRUE...Math is hard! You can't expect accountants to know how to use Excel or work with all those numbers....

@likemysnopp 3 года назад

well.. lawyers are technically pointless as well. So are many programmers. And especially cleaners and sales people of all kinds. There are a lot of jobs that are utter bullshit, but we gotta do something dont we.

@LHFX 3 года назад

I think you missed the point where they explained who discovered the fraud.

@likemysnopp 3 года назад

@@LHFX no I didnt. If you dont understand why the big 4s and other accountants are useful for the economy then you clearly dont understand the economy

@LHFX 3 года назад

@@likemysnopp First of all you don't understand how RU-vid comments work. First do that, then we can move to more complicated items :)

@ashtagbeats 3 года назад

Recently been looking forward to these QuickTake mini-docs. Anyone have any other well-produced financial doc recommendations/channels?

@piersellis69 3 года назад

Cold fusion, jake tran

@Xt4209 3 года назад

Can you elaborate highly interested

@vineethchennabhoina3798 3 года назад

I’d suggest ColdFusion as well.

@kw6143 3 года назад

CNBC

@utopia8177 3 года назад

CNBC does some decent ones as well

@nevenredbull 3 года назад

We germans don't have luck with people from Austria 🤭

@certaindeath7776 3 года назад

u invite the wrong ones, cause greedy^^

@jonasklapper2875 3 года назад

Oh come on. A baverian or a lowersaxon could have done it as well.

@prysrek8858 3 года назад

@@jonasklapper2875 and yet, it's always an austrian.

@jonasklapper2875 3 года назад

@@prysrek8858 What's with the prussian dude in WW1? Or that swiss guy in the 30 years war? It's not always the austrians. They have a fair share of germans leading germans into death.

@Holozon 3 года назад

@@jonasklapper2875 nope they dont have the reqired Charme and Schmäh. And i say this as an Austrian living in Germany. I think the best fraud detector is "people acting like Steve Jobs", That one women with the fraudulent med diagnose tool, the wirecard guys... all imitating the apple guy. And i think u should always check the supervisory board. If its a bunch of retards, but important names, stay away from that company.

@Remember-Death 2 года назад

Should've just named the company "Wirefraud."

@RobCollins2015 3 года назад

Incredible to think at one stage Wirecard was valued more than Gamestop

@Wulfcry 3 года назад

You mean Melvin. Gamestop got bullied

@MM-uv3vb 3 года назад

Great quality short doc, well done! More of these please 👍

@MsMousson 3 года назад

That reporter looks a lot like him, could be mistaken for him easily. Lolll

@bishop6397 3 года назад

That would probably be the best way to hide.

@stijn2472 3 года назад

Plot twist. It is him

@loomnatinoscopers 3 года назад

@@bishop6397 hiding in plain sight can be the best thing to do sometimes...

@tchaffman 3 года назад

Welcome to Austria lol

@euphonikprince8801 3 года назад

😅😅😅😅😅😅

@flybeep1661 3 года назад

Lol that fake Goodfellas poster on the left at 9:50 with the heads of Putin, Trump, and Kim Jong Un hahahaha

@churabhok2869 3 года назад

Ernst and Young only cares abouts its fees! As long as that is paid....they sign anything!

@Orca-hp4zx 3 года назад

Any proof for your stupid thesis?

@jonz23m 3 года назад

@@Orca-hp4zx Google is your friend.

@Orca-hp4zx 3 года назад

@@jonz23m 🤦‍♂️

@markwoolgar2781 3 года назад

@@Orca-hp4zx yes they’re still operating and only receive fines. Unlike Arthur Anderson who went bust in a similar situation with Enron

@JanellFrazier 3 года назад

I can’t wait for a deeper dive into this

@votan232 3 года назад

that is what happens when an Austrian is the leader in Germany

@ETS186 3 года назад

Hahaha! This is gold

@rambo3870 3 года назад

Underrated!!

@babadusseldorf8480 3 года назад

@⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻⸻ wow Bruder du bist ja unter jedem kommi hier, dir geht das wohl sehr nah das du kein vernünftiges Land hast oder wie?

@soestereich 3 года назад

... here we go again

@WelfareChrist 3 года назад

I’m not sure exactly what it is that draws my interest but I’ve always found scams interesting, and this one doubly so. It has all the plot features of a Hollywood blockbuster. Great job Bloomberg!

@The-Enforcer 3 года назад

This company's operations makes it the German equivalent of Enron.

@dwightstjohn8549 3 года назад

Jeffrey Skilling Enron has been out of jail for two years now (his Texas buddies lobbied hard to get him out). Surprised TEXAS hasn't given him a consulting contract on the big freeze last week. He's "wicked smart", you know. This Austrian guy that has "disappeared". Wonder what his "bio" was. Skilling DID graduate from the Wharton School.

@markwoolgar2781 3 года назад

And yet Arthur Anderson went bust worldwide but EY still operating with minimal fines

@stekon9112 3 года назад

After Enron bBig5 turned into Big4. Maybe nów it will be Big3?

@MubashirullahD 3 года назад

These white-collar crimes don't make the people as angry as petty crimes do.

@faith_alone 3 года назад

Usually because there's less violence involved I guess

@kwabenabampoeadu5036 3 года назад

Ppl pour their anger on petty crime because it usually happens closer to the victim.

@sutats 3 года назад

Germany's Enron.

@martinbudinsky8912 2 года назад

Just a heads up. Its not Jan Marsalek but Jan Maršálek (both written form and pronounciation are different). Even though hes Austrian his surname is czech (it can be also seen on the passport in the video). And if you ask me the guy is hiding right here in Czech Republic. We have a saying: "Under the candlestick shadows are deepest." I think you can understand its meaning.

@MassAveStriker 8 месяцев назад

No, elaborate on the saying.

@martinbudinsky8912 8 месяцев назад

@@MassAveStriker Well it means pretty much the same as "hiding something in plain sight". It means that if you hide something in the first place everyone would look no one will bother even looking there because its "too obvious/dumb".

@counterleo 7 месяцев назад

The Czech Republic is an EU member state and a participating member of the Schengen Information System, a Schengen-wide database referencing arrest warrants. I get your "hiding in plain sight" reasoning thing, but I think it would be really dumb to hide somewhere where he could be found out by a simple road check. I get that with money you can get away from many a sticky situation, but there are just much better places on this planet.

@kevclare 3 года назад

It's interesting when Wirecard was hailed as a leader in Fintech. I live in Ireland and know people across Europe. I never heard of anyone using Wirecard. I heard they had great financial results but never of any customers using the service, makes sense now.

@porkcharsui 3 года назад

Wirecard offered B2B solutions for the most part, they rarely targeted end consumers directly. People used their services without knowing who or what Wirecard is.

@kevclare 3 года назад

@@porkcharsui Stripe and Square are B2B but a lot of people have heard of them. Seen their logo on small business websites for payment processing or used their contactless payment service. Never seen any business using wirecard.

@porkcharsui 3 года назад

@@kevclare Wirecard's approach was different. Their main service was pretty much to just secure payments for a (very) short period of time between whatever payment method a customer used and the money actually showing up in the account it was supposed to. This "guarantee" of the money being there is what clients paid for. I never saw their logo anywhere either but they had some pretty big clients before they went berserk.

@frag0638 6 месяцев назад

They were very heavily used by key resale, adult, and online casinos. Anything high risk/ high chargebacks. Probably popular because they weren’t making a profit

@ziwer1 3 года назад

Looks like Jan was always on stand by, ready to vanish at a moment's notice while his colleague started to believe the lie.

@jesselowe5346 3 года назад

Idk it kinda sounds like he just had the right friends to call up and be like "get me tf outta here" Markus was dumb to not make similar friends with the business he was running though.

@abidamjad3844 2 года назад

Journalism at it best by Bloomberg Well done you all

@user-cc4go1jk9s 3 года назад

10:04, He got plastic and reconstructive surgery in his house. That's what the left behind medical equipmentment was from.

@kymanipazamor3162 3 года назад

That's an interesting perspective

@dominokos 3 года назад

A much more plausible explanation rather than them being able to clean up any and all evidence of such a surgery taking place except for the fucking bed is that it was used for people who overdosed on drugs at their parties.

@primayogaadiasa9737 3 года назад

@@dominokos i have a hypothesis that the bed was used to sleep.

@dominokos 3 года назад

@@primayogaadiasa9737 Which my hypothesis does not exclude

@neilatsterling7412 3 года назад

Accounting firms, like EY, need to upgrade their auditing methods. The old fashioned way of checking books doesn't disclose frauds like this. They need to hire detective agencies who understand finance to uncover frauds like the ones in Asia in this case.

@kloyster 3 года назад

Auditors were hired by the firm that they should investigate. No wonder they didn't see that coming!

@jonjo2598 3 года назад

All auditors are hired by the companies that they report on. Who else do you think should hire them, the government? Each audit costs several million dollars per year - the governments in these countries would pay billions of dollars per year in audits if they were to do so.

@quelquun4912 3 года назад

Auditor's are hire to protect the company and the sharesholders not the company director but sometimes the companies arrive to hide the clues or corrupt the audit firm

@primayogaadiasa9737 3 года назад

According to agency theory, a company has 2 parties, i.e. owners/shareholders and management/directors. With an assumption that both parties want to maximize their own wealth. In order that to not happening, owners hire auditor. Normally, audit firm is chosen during general shareholders' meeting. So, eventhough the company paid the fee, ideally the job of auditor is to assure that the report which the management produced is reflecting reality. By doing so, it helped owners to make a future decisions. However, human are human. As nowadays, we can see corrupt policemen, judge, lazy doctors, etc. There will also be lazy auditors, corrupt auditors, etc. The practice is not bad, as an investors, without auditor, there will be more uncertainty in financial report. If with a law and police, criminals are thriving, just imagine the world without law and police.

@primayogaadiasa9737 3 года назад

In addition, there are 2 audit firms involved in this case, EY and KPMG. EY did a general audit, in which it audit all accounts in financial report. KPMG hired to do investigative audit, with the focus to assure that a significant amount of revenue from those foreign countries are in fact exist. And KPMG is the one found that those revenue did not exist. So the auditors hired to investigate it, successfully did the job.

@Luke-nc6em 3 года назад

“Interestingly the collapse of Wirecard started when Wirecard was at its peak” Obviously, when you collapse you just go down.

@khktgnk57 2 года назад

Wirecard also was protected by the german authorities in form of the BaFIn (basically the german SEC), when the FT articles first came out. Several investigations were launched into the FT authors and different short sellers because of suspected insider trading, and shorting the stock was prohibited for a bit. After the collapse there were hearings on these proceedings but just a lot of ''I dont remember'' from the officials in charge, including the secretary of the treasury, who now has a real chance of becoming the next german chancellor in a few weeks...

@Shreendg Год назад

Surprising how much they're like a third world country when they get accused of fraud.

@ravindertalwar553 2 года назад

Congratulations 👏 and all the best ❤️

@Wulfcry 3 года назад

Ernst and Young also a victim of a complex criminal network, Their finance is more complex may as well similar than a criminal network its just a different smell.

@moahhabiib 3 года назад

How is Ey and any other auditors involved not dragged into this , is beyond me

@ApolloVIIIYouAreGoForTLI 3 года назад

So they're ENRON essentially.....

@mikeheisenberg288 3 года назад

IT’S TIME TO AUDIT THE AUDITOR !!!

@phloxie 3 года назад

oh vey, why so antisemitic?

@RLTrane 3 года назад

Haha. The company I work for pays us via wirecard (cruise ships with many international workers). They just changed their name to North Lane and carried on

@primayogaadiasa9737 3 года назад

Well, here is the thing, the culprits are not the owner of the wirecard, they are just directors. So, how about the owners/shareholders? So, after such scandal, the company, the management left behind, declare insolvency and selling its business in order to pay the debts and then paid the leftovers to owners. And North Lane is just one unit of wirecard formerly known as Wirecard North America. If I'm not mistaken it's sold to company named syncapay.

@shintanovitasari7784 3 года назад

This is so sad.

@lzh4950 3 года назад

Here in Singapore they have their Asian HQ, which was raided by local law enforcement last year supposedly as it co-ordinated their fictitious business in the Phillippines. Thinking how much responsibility will the government here be expected to take for not detecting that earlier.

@davidtuckwell5786 3 года назад

Shouldn't you be citing the Financial Times, in some capacity? They broke the story and did all the investigation.

@danjoto7359 3 года назад

6:26

@lukas3606 3 года назад

I’m addicted to these videos.

@ferasu 3 года назад

People mistake the globally standardized audit procedures with Forensic and fraud examination. Audit is not designed to discover fraud or intentional deceit., that's when they brought KPMG later on to do specifically those procedures.

@abcdeeer 3 года назад

This story gets better and better. Seems like the finical watchdog was in on it or reaping the benefits of growing stock price

@johnxantana5299 3 года назад

Incredible content.. that beat at the end is fire too 🔥 us both is James bond 007 l

@damansarajaya88 3 года назад

Looks like Jan and Jho Low (of Malaysia’s 1MDB infamy) is subscribing to the same hiding services. Somehow on the Interpol’s most wanted list, wanted in many countries but somehow with all the high tech in the world, we just cannot find them! Are they using barter trade to buy food now?

@primayogaadiasa9737 3 года назад

They can just have new passport or new id/nationality and then they can live happily ever after.

@shivercanada 3 года назад

Any company involved with the scummy online gambling scams world you should never have anything to do with them. I avoided them like the plague you should too going foreword.

@SmartzLiving 3 года назад

Too late for many. Me included.

@yjey5047 3 года назад

The second time in history an Austrian guy screws Germans over big time

@euphonikprince8801 3 года назад

I know him, I saw him in Portugal in Funchal(Madeira Island), I was staying near to his villa

@rularofclash1737 3 года назад

You can make some serious money if you report him He is like Interpol Most wanted

@bonson9156 3 года назад

report him and make some bank

@jakobwiklund5688 2 года назад

lol having Jim Chanos in the end :)

@RizztrainingOrder 3 года назад

Coldfusion is 1 guy and delivered the same info to the audience in a much more comprehensible, digestible, and relatable way. Doing it all with 0.01% of the financial accessibility Bloomberg’s quick take has to provide a team of researchers, editors, content managers. Come on Bloomberg, the lack of conviction to craft is getting transparent.

@johnl.7754 3 года назад

and 5 months ago

@AshleyTennyson 3 года назад

Yeah that guy is pro, these institutions should learn from these channels

@oo--7714 3 года назад

@@johnl.7754 this doc gives more information tho

@FabioTheGreat 3 года назад

@@oo--7714 Nope, it doesn’t. With amount of resources at their disposal, they could do much better than ColdFusion.

@kerwinhui1337 3 года назад

@@FabioTheGreat This doc does have more information, allegedly from wirecard employee talking anonymously. It also doesn't contain some parts that ColdFusion covered.

@OriginalNotFunny 3 года назад

"Interestinly the collapse of Wirecard starts right around the time where Wirecard is at its peak" - Isn't that what a "peak" is?

@JJSideshowBob 3 года назад

Collapse ≠ decline

@0x0michael 2 года назад

@Xperian13 3 года назад

Austrian boys brought shame to Germany, again.

@tabackeri1842 3 года назад

Not uncommon I guess? Austrian dudes scuba diving in SEA ruining corals and just got away because the poor dive guides just don‘t know how to throw idiot tourists out of their country🤬

@Frazzled_Chameleon 11 месяцев назад

If there is one thing I have learned from recent scandals, it’s that you should NOT trust anyone who comes in dressed like Steve Jobs to try and sell you something. First it was Elizabeth Holmes, then it was this guy. Beware of the black turtleneck, y’all!

@SebAnders 3 года назад

Hey Germany, didn't you learn not to get duped by an Austrian with big promises?

@user-bm5ht8ze2t 3 года назад

As a Filipino, I never even heard Wiredcard here. We only use GCash, Paymaya etc.

@Mara-me4fk 3 года назад

Jan Marsallek is officially dead in the Philipines, I think that is why 😂😂

@TINSTAAFL1 Год назад

Marsalek currently lives in Moscow under the protection of the Russian intelligence agency FSB. His connection with the FSB goes back to Libya and Syria.

@cocobrez 3 года назад

Greed and stupidity will bring any man down!

@seekingeudaimonia6884 3 года назад

Random question 🙋‍♀️ So if the creator of Bitcoin came out and announced it was all a research project or experiment to see how money is created, if a new flow could be opened up, who knows it’s a hypothetical. So if it all came out it was something else but people have invested so much time and money. Even having a stable market and use now, would that kill Bitcoin? Would people suddenly lose all value for it? What would happen?

@somewherenear3003 3 года назад

Putin has so many people working for him in Germany. Govt should find out who's working for whom.

@mzalendo24 3 года назад

Love the jokes on Austria!

@aku7598 3 года назад

Just like Hin Leong Trading of Singapore. Nobody need to worry about company operations in Singapore or Germany????

@TheMrFishnDucks 2 года назад

Wow this is could be a plot of a movie. The trauma beds and medicine is extremely weird unless he really is some sort of mercenary.

@patson420 3 года назад

what a time to get into financial markets, 00, 10, 2020 im already curious bout 2030 desasters.. 😅🙏🏽🤙🏽

@MassAveStriker 8 месяцев назад

He is still not caught for reference.

@BloodyIron 3 года назад

Honestly this isn't even close to the end. Consider how fast police came to his aid. I think the job loss is a smokescreen.

@davidblair8636 3 года назад

Is the guy with the glasses Derren browns brother?

@JorDef 3 года назад

In first place it´s an embarrassment for the politicians in charge. I hope that this will become known wider. We´re sick of lobbying ministers in Germany and wanna have them removed before they can cause even more damage to our society!

@BernieSnowden 3 года назад

@2:07 on her fitbit "Welcome at Wirecard Cafe" Never trust a huge company that can't even get their grammar correct

@ethanmariani5152 3 года назад

marsalek should become the New Bond 007.

@ziwer1 3 года назад

Jan should have pulled a Trump: "Look, all I want is that you find some $2 billion dollars"

@junglecat_rant 3 года назад

🤣🤣🤣🤣🎯

@hayaglamazonluxe 3 года назад

Lmao 🤣🤣

@Football__Junkie 3 года назад

Those Austrians can be quite ambitious, can’t they?

@masterpogi9756 3 года назад

leonardo di caprio fits in this kind of movie directed by ? would be great

@likemysnopp 3 года назад

more cocain and it will be sweet

@Telencephelon 3 года назад

wallstreetbets and Marsalek. Those are my heroes. Wakeup calls for the markets. When did any mayor improvement ever come from stagnation and the status quo?

@Hellya38 3 года назад

movie title: "Where's Jan Marsalek?"

@peterbradshaw8018 3 года назад

Is there a book out yet? Short short baby sung to the tune of Ice Ice Baby.

@thewolf2838 3 года назад

The heist of the century.

@antonresurreccion5062 3 года назад

Jan Marsalek seems like the man.

@nicholasgoldsworthy4719 3 года назад

The great escape from Alcatraz train robbery upgraded.... Hilarious

@jonaswolff9186 3 года назад

just bought it im happy

@bloatedtonydanza7798 3 года назад

I wish I was one of these Machiavellian characters... I am just to dumb and frivolous 😔 and I hate when ppl gets screwed.

@arminius6506 3 года назад

Machiavelli doesn't promote frauds and his philosophy has to do with statecraft, not with ripping off the people of their hard earn money.

@bloatedtonydanza7798 3 года назад

@@arminius6506 has to do with power and strategy to earn what you think is yours boi. You took it too literally 😆

@terencehill3972 3 года назад

The 2B, that was the alleged entire liquidity of the company, supposedly everything sitting in the Philippines, right?

@roryonabike5863 3 года назад

What's the status of Wirecard's technology?

@djmi3976 3 года назад

@Bloomberg quicktale. You guys benefit either way, when wire card was trending from the huge profits it was posting you helped promote it and now that the it has collapsed you help provide facts and evidence on the same. Can’t you guys do your own research cause some people rely on the information you provide else you are similar to Ernst & Young (EY) in this case.

@lancemarshall241 Год назад

Whether it's Germany or America market hysteria can drive prices high without any rational justification for the price increase!

@qyahb3822 3 года назад

How a razor thin profit business model like wirecard can worth a usd20b is mind boggling

@RoneyThomas 3 года назад

The interesting thing was at least from 2008 people where posting on Wallstreet Online about how the books were cooked. Took a decade for it to be exposed.

@likemysnopp 3 года назад

well a few people and probably firms on Wall Street made a few billions from shorting wirecard stock when it went from 100 to 1 dollar . So turns out shorting isnt the worst thing on the planet as so many say now days lol

@RoneyThomas 3 года назад

@@likemysnopp I don't know who is saying shorting is bad. Shorting works when your thesis and timing is right. Definitely didn't help people who shorted in 2008. From 2008-2018, the stock would go down and recover back up. If you shorted in 2019 after the FT news article. Then you hit goal.

@likemysnopp 3 года назад

@@RoneyThomas I honestly dont think anyone is shorting for 10 years 😂 but some did short fairly close to when they got caught finally. And I meant that some are mad at Melvin capital for shorting GME. They think its effecting GMEs business and makes the stock go down.. I doubt shorting makes the price go down

@eddy6959 3 года назад

@@likemysnopp Stock prices are valued on supply and demand. By shorting a stock you raise the supply by selling (a large number of) stocks. This does require a high volume and a lack of demand. Thats why its usually combined with some concerning company news or pessimist analyst prediction. Now more investors start selling because of falling prices and/or fear of an uncertain future which makes the prices go down even further. Thats how it works.

@likemysnopp 3 года назад

@@eddy6959 no.. you lend out the stock you short to another person. In a promise of buying it back later. Also the shares on the market has already been sold by the company to the market. So the outstanding shares (the shares at the market) does not effect the company one bit

@sngs9565 3 года назад

So...how about Ernst & Young? They got off the hook??? KPMG should be applauded.

@lenaely6146 3 года назад

I've noticed ANY company being super hyped by securities sales and media is always a scam. Always. Doesn't matter who, what company, or where; they are always scams.

@shanetonkin2850 Год назад

So Apple, Google, Facebook & Tesla (just to name a few) are all scams?

@streetsideproductionsill884 3 года назад

With that much $ and investors, a system had to be put in place to conceal...

@huntergatherer8972 3 года назад

I see Derren Brown is looking well...

@davidjma7226 3 года назад

Jan and Jho should get along just great....

@BIBIWCICC 2 года назад

He’s currently on a yacht in Gibraltar where he hid everyone’s money.

@lancemarshall241 Год назад

What's the exchange rate of Euros to Rubles? Was it physical cash (euro banknotes) or just electromagnetic energy waves and electrons that were transferred; Did German luxury goods leave with the exit of Jan Marsalek? They must have been portable unless he controls a shipping and transit company!

@corujariousa 3 года назад

He did not carry bags with cash. There must be electronic transaction records. What is the problem in going hard after the banking institutions that facilitated the transactions? Things like this do not happen without some cooperation from people with some power and access to key resources. Probably this is why the case is still open.