4 ms·

The Netflix documentary [1] on the Wirecard scandal [2] is great. [1] https://www.imdb.com/title/tt21836620/ https://www.imdb.com/title/tt21836620/ [2] https:

by npalli 3y ago

The Netflix documentary [1] on the Wirecard scandal [2] is great. [1] https://www.imdb.com/title/tt21836620/ https://www.imdb.com/title/tt21836620/ [2] https://en.m.wikipedia.org/wiki/Wirecard_scandal https://en.m.wikipedia.org/wiki/Wirecard_scandal

OskarS 3y ago
The book it's based on, Money Men by Dan McCrum, is also a spectacular read.
- npalli 3y ago
  Indeed. Dan McCrum is prominently figured in the documentary as well.
- this_user 3y ago
  McCrum had already pointed out that Marsalek was at least looking for connections intelligence services, had confirmed connections to at least some former intelligence operatives, and that there were a lot of pieces of evidence that pointed to the strong possibility of connection to Russia. He just didn't find definitive proof, but that was also not the primary focus of his book.
  - rchaud 3y ago
    Yes the book mentions towards the end that Marsalek's location was unknown, but possibly in Russia or Belarus where Interpol would not be able to do much.
- philshem 3y ago
  Another author but a fascinating New Yorker article on the same subject https://www.newyorker.com/magazine/2023/03/06/how-the-biggest-fraud-in-german-history-unravelled https://www.newyorker.com/magazine/2023/03/06/how-the-bigges...
- hef19898 3y ago
  Highly recommended as well from my side!
- rchaud 3y ago
  Very good read, especially for those who enjoyed Bad Blood, the Theranos book by the WSJ reporter who helped uncover the scam.
- neilkk 3y ago
  It is a good book, but it isn't completely candid about one part of the FT's investigation. When Dan McCrum was under threat of arrest in Germany, that was because Paul Murphy, Dan's editor, did in fact give away to some of his contacts the fact that they were coming out with a negative story on Wirecard and the time it would be published. Murphy has form for trading his own scoops with stock traders for favours. The Wirecard recording of one of Murphy's mates talking about shorting Wirecard to take advantage of the story is accurate and had Murphy (but I very much doubt McCrum) bang to rights. McCrum's explanation for this is that Murphy's associates knew the exact time of the story being released because they had happened to guess it by sheer luck. Clearly if that's what Murphy told him he should have been a little more skeptical. Ultimately the FT's internal investigation into Paul Murphy's behaviour and BaFin's into McCrum's work were abandoned for the same reason: the Wirecard revelations were legit, and much more serious than Murphy's breaches of journalistic ethics.
  - hef19898 3y ago
    Ah, the "FT is conspiring with shortsellers to ruin Wirecard" BS Wirecard was aggressively pushing back the day. Just shows how persistent lies and propaganda can be.
    - FabHK 3y ago
      Eh? That's not the argument. The argument is that an FT editor couldn't keep his mouth shut ~and was complicit in insider trading.~ The other (baseless) accusations you're talking about (and that led BaFin to investigate the FT) are extensively covered in the book. Edit: Not sure it was insider trading, or illegal. Just probably not in line with FT standards.
      - hef19898 3y ago
        You do know that there is a difference between letting information slip and actively participating in insider trading?
      - Topgamer7 3y ago
DyslexicAtheist 3y ago
requires a total remake considering all the extra context coming to light now.
- namdnay 3y ago
  The documentary was pretty clear about it being 99% certain Marsalek was connected
  - DyslexicAtheist 3y ago
    I recall it was hinted at in the last episode only. the langue in the documentary seemed more like "alleged" ... it is very different from what is published in this report. shopping for a mercenary army in Libya = Not just a different ball-game, but an entirely different sport.
FinnKuhn 3y ago
"King Of Stonks" [1] is also pretty entertaining and inspired by the Wirecard scandal and pretty fun to watch. [1] https://www.imdb.com/title/tt15407486/ https://www.imdb.com/title/tt15407486/

by npalli 3y ago

OskarS 3y ago

The book it's based on, Money Men by Dan McCrum, is also a spectacular read.

npalli 3y ago
Indeed. Dan McCrum is prominently figured in the documentary as well.
this_user 3y ago
McCrum had already pointed out that Marsalek was at least looking for connections intelligence services, had confirmed connections to at least some former intelligence operatives, and that there were a lot of pieces of evidence that pointed to the strong possibility of connection to Russia. He just didn't find definitive proof, but that was also not the primary focus of his book.
- rchaud 3y ago
  Yes the book mentions towards the end that Marsalek's location was unknown, but possibly in Russia or Belarus where Interpol would not be able to do much.
philshem 3y ago
Another author but a fascinating New Yorker article on the same subject https://www.newyorker.com/magazine/2023/03/06/how-the-biggest-fraud-in-german-history-unravelled https://www.newyorker.com/magazine/2023/03/06/how-the-bigges...
hef19898 3y ago
Highly recommended as well from my side!
rchaud 3y ago
Very good read, especially for those who enjoyed Bad Blood, the Theranos book by the WSJ reporter who helped uncover the scam.
neilkk 3y ago
It is a good book, but it isn't completely candid about one part of the FT's investigation. When Dan McCrum was under threat of arrest in Germany, that was because Paul Murphy, Dan's editor, did in fact give away to some of his contacts the fact that they were coming out with a negative story on Wirecard and the time it would be published. Murphy has form for trading his own scoops with stock traders for favours. The Wirecard recording of one of Murphy's mates talking about shorting Wirecard to take advantage of the story is accurate and had Murphy (but I very much doubt McCrum) bang to rights. McCrum's explanation for this is that Murphy's associates knew the exact time of the story being released because they had happened to guess it by sheer luck. Clearly if that's what Murphy told him he should have been a little more skeptical. Ultimately the FT's internal investigation into Paul Murphy's behaviour and BaFin's into McCrum's work were abandoned for the same reason: the Wirecard revelations were legit, and much more serious than Murphy's breaches of journalistic ethics.
- hef19898 3y ago
  Ah, the "FT is conspiring with shortsellers to ruin Wirecard" BS Wirecard was aggressively pushing back the day. Just shows how persistent lies and propaganda can be.
  - FabHK 3y ago
    Eh? That's not the argument. The argument is that an FT editor couldn't keep his mouth shut ~and was complicit in insider trading.~ The other (baseless) accusations you're talking about (and that led BaFin to investigate the FT) are extensively covered in the book. Edit: Not sure it was insider trading, or illegal. Just probably not in line with FT standards.
    - hef19898 3y ago
      You do know that there is a difference between letting information slip and actively participating in insider trading?
    - Topgamer7 3y ago

DyslexicAtheist 3y ago

requires a total remake considering all the extra context coming to light now.

namdnay 3y ago
The documentary was pretty clear about it being 99% certain Marsalek was connected
- DyslexicAtheist 3y ago
  I recall it was hinted at in the last episode only. the langue in the documentary seemed more like "alleged" ... it is very different from what is published in this report. shopping for a mercenary army in Libya = Not just a different ball-game, but an entirely different sport.

FinnKuhn 3y ago

"King Of Stonks" [1] is also pretty entertaining and inspired by the Wirecard scandal and pretty fun to watch. [1] https://www.imdb.com/title/tt15407486/ https://www.imdb.com/title/tt15407486/