Dierlamm said his client was unaware of the accounting irregularities, adding that Bellenhaus and Marsalek were running a \u201cshadow operation\u201d that siphoned off money into shell accounts.<\/p>\n
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Dierlamm also noted his client was the company\u2019s biggest shareholder and had never sold his shares \u2013 in fact, he had increased his holding shortly before the company\u2019s collapse. This demonstrated he had not attempted to profit personally from the inflated share value and appeared oblivious to impending catastrophe.<\/p>\n<\/div>\n
Dierlamm contends that German prosecutors were under pressure to find a scapegoat for the fraud because Marsalek has slipped through their grasp.<\/p>\n
Marsalek fled Germany as Wirecard collapsed, traveling to Belarus and then onto Moscow. He is believed to have connections to Russian intelligence agencies.<\/p>\n","protected":false},"excerpt":{"rendered":"
The former head of Wirecard\u2019s Dubai subsidiary admitted his complicity Monday in the widescale accounting fraud that led to the spectacular collapse of the German fintech giant. At the same time, he pointed the finger at his codefendant, ex-CEO Markus Braun. Oliver Bellenhaus told a Munich courtroom that Braun was an \u201cautocratic chief executive\u201d who […]<\/p>\n","protected":false},"author":36,"featured_media":248844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,60],"tags":[84010,84181,84011],"acf":[],"yoast_head":"\n
Wirecard Trial Star Witness Blames CEO for \u2018Massive Criminal Act\u2019<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n