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    WDI   DE0007472060

WIRECARD AG

(WDI)
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Wirecard : British businessman arrested on Wirecard-linked fraud charges

09/02/2021 | 12:20pm EDT

A British businessman has been arrested and charged in Singapore with fraud for allegedly instructing a company, with ties to the collapsed Germans payments company Wirecard, to forge a letter according to widespread reports.

James Henry O’Sullivan has been accused of ordering accounting firm Citadelle Corporate Services to fabricate a document, according to the Financial Times.

The letter was addressed to Cardsystems Middle East FZ, a Wirecard subsidiary based in Dubai, and the contents included claims that Citadelle held over $100m in an escrow account.

O’Sullivan, who was arrested on Monday and appeared in court on yesterday, risks a penalty of up to ten years in jail, a fine, or a combination of both, if he is found guilty.

He is also suspected of having several ties to Wirecard, a German payments company which collapsed last year after revealing a £1.7bn hole in its accounts, including with its former chief operating officer, Jan Marsalek, who is now a fugitive.

O’Sullivan worked with Wirecard in at least one partnership in Asia and, according to the Financial Times which disclosed the accounting scandal, was a key player in driving some of the group’s deals. Other firms linked to O’Sullivan were recipients of large loans from Wirecard too.

The British businessman has been remanded for a week at the Central Police Division in Singapore, and his case adjourned until September 8.

The post British businessman arrested on Wirecard-linked fraud charges appeared first on CityAM.

© City AM, source Newspaper

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Analyst Recommendations on WIRECARD AG
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Financials
Sales 2019 2 769 M 3 223 M 3 223 M
Net income 2019 524 M 610 M 610 M
Net cash 2019 1 135 M 1 322 M 1 322 M
P/E ratio 2019 0,05x
Yield 2019 112%
Capitalization 26,8 M 31,2 M 31,2 M
EV / Sales 2019 -0,40x
EV / Sales 2020
Nbr of Employees 5 685
Free-Float 97,4%
Chart WIRECARD AG
Duration : Period :
Wirecard AG Technical Analysis Chart | WDI | DE0007472060 | MarketScreener
Income Statement Evolution
Managers and Directors
Thomas Eichelmann Chairman-Supervisory Board
Wulf Matthias Member-Supervisory Board
Stefan Klestil Member-Supervisory Board
Vuyiswa V. M’Cwabeni Member-Supervisory Board
Anastassia Lauterbach Non-Executive Director
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