Internal Wirecard Bank Auditor
Testimony of an internal bank auditor
August 31, 2023
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And another greyhound Wirecard day at Munich's prison court Stadelheim. Today, the former tech giant's internal Wirecard Bank auditor V. was questioned
V. stated he and his team did perform audits not only at and for Wirecard's bank, but also intertwined at the corporational German AG. Audits enconpossed a wide range, from corporate audits, IT, accounting, budgeting, and transaction audits.
V. was working with a total of 5 people, way too little to provide for functional audits. Wirecard witness claimed around 10% of total workforce are or should be employed as auditors at multinationals
Wirecard witness V. stated that according to his perspective, there was no official exchange with the company's compliance and legal department in their audits. Instead, he;suggested and elaborated on a so-called "audit universe" forcthe company.
Witness V. stated he made short business trips to various Wirecard entities and evaluated their business activities. One was to Dubai in 2018 to evaluate Wirecard Processing and Card Systems FZ LLC.
Reason for the 2018 Dubai trip of Wirecard witness V. were office renovation costs of €2 million there which were not done, and unusual management salary increases, apparently involving Dubai Director Dashielle Lipscombe.
Witness V. created an audit report upon returning to Munich regarding Dubai irregularities and forwarded to all Wirecard Directors. He was also asked about the Third Party Acwuisition (TPA) business activities and how/if he had knowledge of it.
The first time, witness V. was introduced to Wirecard's TPA business was in Dubai in 2018 by Oliver Bellenhaus. He soon assembled a comprehensive chart that reflected what he had understood from the TPA business details provided by Bellenhaus.
This extensive chart explaining the TPA business and how it connects to Merchants, Wirecard Sales GmbH, Card Systems, Trust Bank, MCA and others was discussed at length in court. Witness V. was advised to sketch a plan by CFO von Knoop.
Wirecard witness V. also made an extensive Excel list asking for additional information regarding the TPA business activity and who precisely he had asked for additional information.
Noteworthy is that witness V. drew Card Systems as being the tech handler for TPA business activities, which would mean that transactions for that business part were done on Wirecard servers, in contrary to intent of TPA which was to totally outsource it.
Wirecard witness V. identified a number of audit hooks in that TPA business scheme and unsuccessfully tried to propose it into his "audit universe". It was first delayed by Bellenhaus by blaming issues in Singapore, then by Marsalek, who wanted to migrate TPA audit overseas.
Finally, by end of 2019, witness V. was told that the introduction of audits into the TPA business activities were entirely put on hold because of KPMG special audit. He was also put "into a tunnel" by Project Waterloo, the €1 billion Softbank investment into Wirecard.
Witness V. was also busy when Germany's BaFin briefly investigated Wirecard for money laundering in 2019, and interferences into loan handlings at Wirecard Bank, allegedly by Jan Marsalek in favor of certain customers. His team of 5 people was overloaded.
When a lawyer asked Wirecard witness V. whether be still stands to his TPA chart from 2018 based on input by Bellenhaus, he stated: "I cannot answer that question". Further questions by the lawyer were blocked by the presiding judge.
When word was given to Bellenhaus, he asked Wirecard witness V. why he would mention MCA in his chart. When lawyer asking before complained, he was rejected 2nd time and Bellenhaus allowed to question the validility of a TPA chart that was assembled by V. from his own input.
Lastly, Wirecard witness reported contrary to other witnesses that von Erffa had no visible psychological issues at all, he was within acceptable behaviour patterns and a witty and maybe unusual colleague, but mostly friendly and professional.
In a very last questioning by a lawyer, an August 1, 2019 email from Rajarathan (Citadelle) forwarded to witness V. by Bellenhaus was shown on the court monitor. Here it was claimed the following amounts on trust accounts were generated by Wirecard's 3rd party business activities (TPA) in Q2:
Payeasy €255 Million
Wirecard UK & Ireland €341 Million
Card Systems Mid-Eastt €391 Million
Card Systems Mid-East €419 Million
Payeasy €255 Million
Wirecard UK & Ireland €341 Million
Card Systems Mid-Eastt €391 Million
Card Systems Mid-East €419 Million
As a final wrap up, in an email as late as January 8, 2020 to Bellenhaus shown on court monitor today, Wirecard witness V. suggested to install a "Global Fraud Management and Prevention Event" at Card Systems FZ LLC in Dubai. That email was never answered, apparently.
Another crucial email chain involving witness V. showed that Wirecard finance director vErffa tried to obtain employment information at Card Systems LLC in Dubai for EY's audit. vErffa's inquiry was answered with: "We don't have employment deployment. We outsource all software development to a 3rd party developer."
vErffa responded harshly to this Dubai email from Card Systems, asking for true information. He was considering to escalate this inquiry and demanded consequences for the responding officer at Dubai.
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