In search of ex-Wirecard executive, Jan Marsalek goes public in Germany

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BERLIN – German investigators call on the public to help them find Jan Marsalek, the elusive former executive of Wirecard AG whom prosecutors suspect played a central role in inflating fintech results by reserving bogus income for years.
The German payments group, which was briefly worth more than the country’s largest bank, filed for insolvency in late June after revealing that more than $ 2 billion of its cash supposedly held in bank accounts managed by trustees were probably wrong.
German prosecutors suspect Mr Marsalek, longtime chief executive Markus Braun and others colluded to inflate the company’s bottom line by reserving bogus income since at least 2015, which allowed Wirecard to raise 3, 2 billion euros ($ 3.8 billion) in loans that prosecutors now believe are probably lost.
But while Mr. Braun and three others have since been arrested, Mr. Marsalek has eluded authorities since the company collapsed in June.
Earlier clues to the former leader’s whereabouts pointed to the Philippines and then Russia, but investigators said on Wednesday that an international search for him had so far failed.

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