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Wirecard
Wirecard CEO Markus Braun Photo by Hubert Burda Media
German Tech Giant
The Wirecard story represents the biggest accounting fraud in Germany and EU history.
- EU to probe German financial watchdog.
- Shortsellers make $2.6 billion.
- Critics and shortsellers targeted in operation codenamed “Palldium Phase 2”.
The Mercantile Mercenary
Palldium Phase 2 was the codename for a operation targetting Wirecard’s critics and short sellers. With a capability comparable with nation states it drew a wide net over its targets utilising every technique at its disposal.
- mobile telecom hacking.
- communications intercepts.
- payment records.
- vehicle tracking.
- traditional surveillance.
- entrapment.
Wirecard deny knowledge and the instigator or customer of the operation is unproven. It involved several security and investigative companies, a former Libyan Intelligence chief and two UK companies who claim to employ ex Intelligence and Special Forces personell, namely APG Protection and Sloane Risk Group.