Whether via video or in person – it is quite possible that tomorrow, Thursday, one of the main people responsible for the Wirecard scandal will have his first public appearance since the insolvency of the former payment miracle. Ex-CEO Markus Braun is to testify before the Wirecard investigation committee set up in October. This really begins the political processing of one of the biggest economic scandals in the history of the Federal Republic.
One of the most important drivers in the education is the Green MP Danyal Bayaz. The former management consultant has been a member of the Bundestag since 2017 and made a name for himself in finance and start-up politics. But since the summer he has mainly been concerned with the Wirecard scandal – and his connections in politics.
Even if not all the mechanisms of the Wirecard fraud machine have been worked through, Bayaz already has a certain idea of how it must have gone: For example, he is sure that there is not a small circle around ex-CEO Braun or even just the fled ex -COO Jan Marsalek and his secret service connections were responsible: “I cannot imagine that only a small circle pulled the strings,” says Bayaz.
In his opinion, politics and authorities have not only failed in their supervisory work – he goes even further: There is “the suspicion that not only the control mechanisms have failed, but that the company has been put in front of everyone for reasons of industrial policy To nip suspicion in the bud ”.
Bayaz sees a need for reform in the Bafin financial supervisory authority in particular – he calls for a “cultural change”: “We need a stronger financial supervisory authority that thinks criminalistically.” The dreaded US stock exchange regulator SEC is a good example. It should be immediately clear to possible fraudsters: “Guys, don’t even try, otherwise you will have to deal with us!”
Bayaz referred several times in the podcast to the FinanceFWD episode # 45 with Fahmi Quadir – the US short seller referred to Wirecard as a “money laundering machine” – and reported how she protested against the ban on short sales for Wirecard shares at the beginning of 2019 in vain at the Bafin.
Incidentally, the podcast was recorded last Thursday – the dispute over a personal appearance by Markus Braun before the committee was only later publicly and therefore not discussed in the podcast.
In the FinanceFWD podcast, Bayaz talks about …
… his view of the Wirecard company and the fraud process
… his understanding of angry investors
… the Greens’ hesitation as to whether there should be a committee of inquiry
… Mission and opportunities of the committee
… cooperation and political conflicts in awareness-raising
… deficits in the Bafin and reform initiatives such as the FISG law
… the question of what the Wirecard scandal says about Germany as a financial location and the local fintech scene
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