Philippine investigators accuse ex-executive of Wirecard of committing fraud, cybercrime

Philippine Secretary of Justice Menardo Guevarra said the country's investigators have logged a complaint against former Chief Operating Officer (COO) of German payment firm Wirecard, Jan Marsalek, regarding fraud and cyber crime accusations.
Philippine investigators accuse ex-executive of Wirecard of committing fraud, cybercrime ảnh 1German payments firm Wirecard (Photo: FT)

Manila (VNA) - Philippine Secretary of Justice MenardoGuevarra said the country's investigators have logged a complaint against former Chief Operating Officer (COO) of German payment firm Wirecard, Jan Marsalek, regarding fraud and cyber crime accusations.

Guevarra told AFP that the National Bureau of Investigation lodged the complaint on May 31against Marsalek, as well as aManila lawyer and bank employees on Wirecard's alleged bank fraud. Stateprosecutors are conducting a preliminary investigation which would determineif charges would be filed.

Marsalek was responsiblefor Wirecard's Asia business. In August 2020, Interpol and the Federal Criminal Police Office of Germany (BKA) have extended the arrest warrant for Marsalek, who was remaining at large.Marsalek was suspected, along with other defendants, of inflating total assetsand sales through fake transactions. According to the Munich prosecutor, thescam cost banks and investors more than 3 billion EUR (3.6 billion USD).

Wirecard used to be one of the"rising stars" in the financial technology sector in Germany.However, last year, the company had to file for bankruptcy protection afteradmitting that 1.9 billion EUR (2.3 billion USD) was missing from thecompany's balance sheet. Wirecard said the money was supposedly held in trustin two Philippine lenders to cover trading risks carried out by third partieson Wirecard's behalf.

But in June 2020,  auditorsErnst & Young said they were unable to find it, forcing the company toadmit the money did not exist.

The Philippine central bank said previously that the money never entered the country's financial system./.

VNA

See more

mbassador Anouparb Vongnorkeo, Permanent Representative of Laos to the United Nations (UN) (Photo: https://kpl.gov.la/)

Laos works closely with UNICEF to protect children’s rights

Ambassador Anouparb Vongnorkeo, Permanent Representative of Laos to the United Nations (UN) emphasised the partnership between UNICEF and the Lao government in ensuring and promoting children's rights and well-being, while mentioning challenges ahead, particularly amid climate change and global economic uncertainties.

Deputy for tourism and infrastructure development at the Ministry of Tourism Hariyanto. (Photo: ANTARA)

Indonesia boosts culinary tourism

To promote Indonesian culinary tourism, the Indonesian Ministry of Tourism is currently focusing on culinary products to ensure that tourism products can move up a class. It is also paying attention to wellness tourism, gastronomy, marine, and fashion.

A truck arrives as another departs from Laem Chabang deep-sea port in Chon Buri province. Thai exports to the US could face higher trade barriers. (Photo: Bangkok Post)

Thai exporters risk higher US tariffs: expert

Thai exports to the US that are at risk of US trade barriers include Bluetooth modules, broadband products, solar modules, power adapters, machinery and parts, auto parts, mobile camera modules, and air conditioners.