Jan Marsalek, a longstanding member of the Wirecard board, is considered a key figure in the balance sheet scandal. First, he announced that he would face the judiciary in Germany. But now he's backing off. Meanwhile, gamblers on the stock exchange determine the price of the Wirecard share.
According to a media report, Jan Marsalek, the long-standing board member of Wirecard, a financial services provider involved in a financial scandal, will not face the judiciary. This is reported by "Süddeutsche Zeitung", NDR and WDR, referring to those involved in the process. Marsalek had had his lawyer say last week that he would come to Munich to be questioned there. This should not happen now.
Neither the Munich public prosecutor's office nor his defense counsel have commented on the report so far. Meanwhile, the Austrian Marsalek, who is wanted by arrest warrant according to German media reports, may be in China. Filipino Justice Minister Menardo Guevarra said Marsalek entered the Philippines last week and left the country shortly afterwards for China.
"Business operations at risk"
Marsalek is considered a close confidante of the long-time Wirecard boss Markus Braun and possibly as a key figure in the balance sheet scandal. Among other things, he was responsible for the Asian business. Wirecard admitted two weeks ago that the annual balance sheet lacked 1.9 billion euros and that the money at two Philippine banks probably does not exist. The share price of the Dax group crashed, the company filed for bankruptcy. Ex-group boss Braun has already turned to the judiciary.
In the meantime, the Wirecard share temporarily rose by more than 200 percent in the morning. "There are only gamers here," said a stock trader. After the price drop in the past two weeks, the move was just a drop in the bucket.
The share fell 99 percent at the top to temporarily 1.08 euros and today rose to four euros. "An insane increase without really new news," comments ntv exchange expert Corinna Wohlfeil. Even if the company emphasizes that Wirecard-Bank is not insolvent and business is continuing, the trust of customers and business partners should be lost, says Wohlfeil. "Business operations are and remain massively at risk."
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