Dan McCrum, a Financial Times journalist, uncovers the shocking truth behind Wirecard, a tech startup that turned out to be a massive financial fraud. He shares the gripping details of his investigation, including tense sting operations and courageous whistleblowers. McCrum discusses the risks investigative journalists face while unmasking corporate deception and the implications of the scandal on Germany's financial reputation. His new book, "Money Men," dives deep into this bizarre tale that intertwines innovation with deceit.
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question_answer ANECDOTE
Wirecard Investigation Begins
Dan McCrum, a Financial Times journalist, was tipped off about Wirecard, a German payments company.
Initially, there were two theories: accounting fraud or money laundering for shady online businesses.
question_answer ANECDOTE
$10 Million Bribe
McCrum's boss was offered a $10 million bribe to stop investigating Wirecard.
This led to a sting operation involving undercover colleagues and a meeting with a key figure, Jan Marsalek.
question_answer ANECDOTE
Whistleblower Emerges
A whistleblower's mother, Evelyn, contacted McCrum due to his prior Wirecard coverage.
Her son, Pav, had discovered fraud while working at Wirecard and, after being forced out, handed over internal documents to McCrum.
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A Hot Startup, A Billion Dollar Fraud, A Fight for the Truth
Dan McCrum
Money Men is the astonishing inside story of Wirecard's multi-billion-dollar fraud, Europe's biggest new tech darling revealed as a house of cards. Journalist Dan McCrum provides a gripping firsthand account of the investigation, detailing the setbacks, luck, and hard-edged tactics used against him. The book uncovers a world of short sellers, whistleblowers, pornographers, private militias, hackers, and spies, and reveals the intense pursuit and threats McCrum faced as he worked to expose the fraud.
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When Financial Times journalist Dan McCrum followed a tip to investigate Wirecard, a hot new European tech startup challenging Silicon Valley, everything about the business – which claimed to be an innovative digital payments processor – struck him as too good to be true. As McCrum dug deeper, he encountered a tale stranger and more dangerous than he ever imagined. His new book, Money Men: A Hot Startup, A Billion Dollar Fraud, A Fight for the Truth, tells the story. He joins Carl Miller, Research Director of the Centre for the Analysis of Social Media at Demos, to talk about it.
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