The €1.9 Billion That Never Existed. (Wirecard Explained)

In 2018, Wirecard was worth €24 billion – more than Deutsche Bank. Two years later it was bankrupt in a single week, because €1.9 billion of its cash simply didn't exist. This is the story of Germany's fintech champion: the payment company that grew every single year, the Financial Times reporter who wouldn't stop digging, the regulator that went after the journalists instead of the company, the missing billions "in the Philippines" – and the COO who vanished on a private jet and is now accused of running a Russian spy ring. Explained simply, with a lemonade stand and a jar nobody was allowed to open. CHAPTERS 0:00 The €24 billion company that wasn't 1:04 The internet's back alley 2:53 Germany's tech champion 4:30 The journalist who wouldn't stop 6:25 Shooting the messenger 7:38 Follow the money... to nowhere 9:57 Seven days in June 11:33 Where are they now? 13:49 The real lesson Note: Markus Braun denies all charges and is presumed innocent until a verdict is reached. As of this video, his trial in Munich is ongoing. Jan Marsalek has not been convicted of any crime. Illustrations are cartoon depictions, not likenesses. SOURCES Wirecard scandal overview – https://en.wikipedia.org/wiki/Wirecar... ACFE Fraud Magazine: Wirecard's house tumbles – https://www.acfe.com/fraud-magazine/a... The Rise and Fall of Wirecard (Quartr) – https://quartr.com/insights/edge/the-... Philippine central bank on the missing funds (Philstar) – https://www.philstar.com/business/202... Wirecard files for insolvency (Reuters/Malay Mail) – https://www.malaymail.com/news/money/... EY banned from new audits over Wirecard (CNN) – https://www.cnn.com/2023/04/03/busine... Trial status (t-online, July 2026) – https://www.t-online.de/finanzen/aktu... Russian spy ring sentenced (CPS) – https://www.cps.gov.uk/cps/news/updat... #Wirecard #TechHistory #Fraud