The Wirecard saga is without doubt one of the most-insane issues to ever occur in monetary markets.
It was the darling of the German inventory market and when the FT began to poke round at indicators of fraud, the German authorities banned quick promoting. In a journalism Corridor-of-Fame second, the reporters continued and outed the corporate as a home of playing cards, resulting in its collapse from a peak market cap of €24 billion.
That is loopy sufficient.
However the FT is now reporting that COO Jan Marsalek — who’s a fugitive and probably dwelling in Moscow — was a Russian spy. The allegation is that Wirecard itself was used as a shadow monetary community to facilitate Russian undercover operations however not solely that, Marsalek helped to facilitate spying operations.
That revelation actually heightens the warnings and threats that FT journalist Dan McCrum confronted, and allegations he was being spied on.
That is additionally a chance for me to put up my favorite analysis be aware:
