4 Nov 2022

Bringing down Wirecard: Germany's biggest scam?

From Nine To Noon, 10:07 am on 4 November 2022

Online payment service Wirecard was once Germany's biggest tech darling and the country's answer to Silicon Valley, at its peak valued at more than 24 billion euros; until 2020, when it was exposed as one of the most audacious corporate frauds of the modern era.

A tip-off in 2014 started Financial Times journalist Dan McCrum on a seven year investigation, uncovering corrupt business practices and fraudulent financial reporting.

But as he pursued the story, Wirecard fought back viciously; with online abuse, hacking, electronic eavesdropping, physical surveillance and intimidation.

But the house of cards eventually came crashing down.

Dan McCrum tells the story in his book Money Men: A Hot Startup, A Billion Dollar Fraud, A Fight for the Truth, which has been made into a Netflix documentary; Skandal! Bringing Down Wirecard.

Dan McCrum

Photo: Supplied