WireCard - hope this isnt another SATA

[extremedox101]

I've had completely opposite experience with paypal, I won basically every single 'dispute' as a buyer. Yes as a seller, Paypal can be very bad and they are not gonna side with you.

I was scammed on skrill once and I called the credit card company - they said they can't do chargebacks with Skrill because Skrill is like "western union" and once the money is sent, it's gone for good

yes its the opposite , pal btw is much larger in transactions size and global users this means more scammers laying down there .
skrill dont issue refunds but at least i know this before dealing . pal is more like circus and a lot of contrast can happens since transaction take a place ,
i don't recommend using any of them to send money to another user or small business .

 

[Edge]

Well a final update here, it seems so many customers were complaining to Payoneer that they need their cards to continue working until the new card solution is available and working. Which they did.

Good news! We have successfully reactivated all services you previously had on your Payoneer Prepaid Mastercard® card to give you full access to all the value we offer. Your funds will once again be received directly to your card, from where you’ll be able to withdraw to your local bank account, make payments and use the card at ATMs and for purchases. While we had communicated previously that this would become available on Monday, July 6th, we listened to your feedback and worked hard to bring it forward.

Your card is safe. The Financial Conduct Authority (FCA) confirmed that all cardholder money is secure and held in full in safeguarded trust accounts in leading UK banks. Furthermore, to put your mind at ease, we stand behind our statement that your funds are 100% safe.

 

[Tax Cow]

Reminds me of story of Allen Stanford and his Antigua bank

Not so surprised of the fraud as much as I am of someone with a sneaky smirk like his being able to earn anyone's trust! That one looks like a Rio de Janeiro cab driver telling a funny joke to distract you from counting the change.

 

[Martin Everson]

But unless the law clearly prohibits screenshots and unconfirmed certificates to be considered in the audit process, it's just a matter of opinion of sufficiency.

I guess that maybe a technical defense from EY if it goes to court .

 

[ih8socialism]

Not so surprised of the fraud as much as I am of someone with a sneaky smirk like his being able to earn anyone's trust! That one looks like a Rio de Janeiro cab driver telling a funny joke to distract you from counting the change.

Feels like it happens every 10-20 years in germany

 

[Praetorian]

The moment i saw sketchy cryptocurrency projects, exchanges and literal money laundering rings out of Panama (Crypto Capital) banking with them, i knew this bank was going to go bust sooner or later.

Their risk appetite was too big to be taken seriously, let alone be serious about their financials, stability. For all we know it could have been a by the book smash and dash ponzi scheme, scammers trying to lure in other scammers and take their money type of deal.

A bank that accepts literally everyone and does shady processing has its days numbered in 2020, sooner or later they will either get shut down, or the founders will make a run for it with everyone's money.

 

[Silvio]

Out of all analysts that gave out glowing "BUY" recommendations, one analyst named Neil Campling gave the stock a $0 target.

https://valueandopportunity.files.wordpress.com/2020/07/wc-analysts.jpg

Campling recently came up with a list of 20 warning signs investors can look out for to spot the next massive financial fraud in the stock market:

Extremely promotional CEO that is always seeking publicity.
CEO and/or senior management with massive compensation packages tied to sales growth or stock price rather than cash flow or earnings.
Management compensation that is well above peers, even if the company is less profitable.
Aggressive future projections that are consistently proven to be too optimistic over time.
Questionable product quality or lack of technological advantages over competing products.
Self-certification of financials via mechanisms such as international subsidiaries, lack of third-party auditing or utilizing creative accounting to generate late-quarter surges in revenue.
An unusual or unverified level of Receivables due to the company receiving cash up front for future deliveries.
Signs that the company has a shoestring budget and struggling to pay suppliers, employees, leases, etc.
Unusual trends in margins, such as margins staying flat or increasing despite large investments in global expansion and lower average sales prices over time.
Rising gross debt levels and cash balances that are not matched by interest income.
High employee turnover, especially in the accounting and legal departments.
Aggressive retaliation against or dismissal of critics or third parties seeking additional information about the company.
Dislike of hedge funds. Signs of narcissism from the CEO.
A growing group of critics whose opinions are dismissed due to the stock’s strong performance.
Growth stocks with slowing top-line numbers and/or unsustainable market shares.
Lack of profitability or inconsistent profitability. Extensive use of non-GAAP accounting, one-off items and unusually large credits.
A weak board that is beholden to the CEO, including family members.
Media and analyst targets that factor in products that are at least five years away from having any meaningful impact.

Any of these rings a bell @Martin Everson ?

 

[Martin Everson]

Any of these rings a bell @Martin Everson ?

Yup describes Tesla to a tee. But hey I let people find out the hardway how reality works...lol.

 

[Martin Everson]

It gets worse for Wirecard Bank.

https://www.wsj.com/articles/wirecard-under-criminal-scrutiny-by-u-s-authorities-as-part-of-probe-into-alleged-bank-fraud-conspiracy-11594229246

 

[Tax Cow]

The fellow told that he'll go search for the missing billions in the Philippines to prove his innocence, but according to Bellingcat, the travel documents were forged and he is now suspected of having fled to Minsk Belarus or Russia.

Beautifully played, sir!

---

In the aftermath of Wirecard’s implosion, there had been speculation Marsalek fled to the Philippines and then onward to China.

However, Bellingcat reported that the trip had been a red herring and had been forged.

World's Most Wanted Man Jan Marsalek Located in Belarus; Data Points to Russian Intel Links - bellingcat

It can safely be assumed that Jan Marsalek is currently one of the most hunted-for persons on earth. The company he oversaw operationally, Germany’s Wirecard, collapsed overnight last month after auditors brought attention to a nearly 2 billion Euro gaping hole in its balance sheet. The hole was...

www.bellingcat.com

 

[Martin Everson]

He seems a sophisticated mover with a lot of connections and activities. Sounds like he is guilty as hell. Again love how Russian angle always appears. As uncle Martin always says whenever there is money laundering in you can find a Russian not too far away .

Btw the leaked wirecard emails on the darkweb seem to have disappeared now. I saw his name on a few of those email but never read them

 

[Praetorian]

He seems a sophisticated mover with a lot of connections and activities. Sounds like he is guilty as hell. Again love how Russian angle always appears. As uncle Martin always says whenever there is money laundering in you can find a Russian not too far away .

Btw the leaked wirecard emails on the darkweb seem to have disappeared now. I saw his name on a few of those email but never read them

Willing to bet that there is probably a whole network behind this guy who supported him and enabled him to disappear so easily lol, those guys who pull off massive frauds and manage to get away with them rarely operate alone. Either russian government help in exchange of vital intel or the guy is backed by other organized groups. As for the missing billions, that kind of money goes a loooooong way in eastern europe/asia, you can literally buy a new life/quality docs/government immigration documents under new assumed identity and start fresh regardless of what you've done (As long as you didn't cross the U.S. government lol)

 

[Martin Everson]

It gets worse the more they dig into wirecard...lol. This is heading towards it being a laundromat. Where the billions go? Did it even exist?

Visa, Mastercard Fined Wirecard Millions

Visa and Mastercard reportedly each fined Wirecard in excess of $10 million more than a decade ago for suspicious transactions.

www.pymnts.com

---start quote

The Wall Street Journal reported on Monday (July 27) that Visa and Mastercard each fined Wirecard in excess of $10 million more than a decade ago for suspicious transactions.

And since 2015, Visa and Mastercard executives have been concerned about issues with Wirecard that included miscoded gambling transactions, high numbers of stolen card purchases and reversed transactions which led to substantial fines, sources told the newspaper.

---- end quote