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Late in the spring of , Jan Marsalek, an Austrian bank executive, was suspended from his job. He was a widely admired figure in the European business community—charismatic, trilingual, and well travelled. But he would say that to almost everyone. He had joined in , on his twentieth birthday, when it was a startup. The sum amounted to all the profits that Wirecard had ever reported as a public company.
There were only two possibilities: the money had been stolen, or it had never existed. The Wirecard board placed Marsalek on temporary leave. Before leaving the office that day, he told people that he was going to Manila, to track down the money.
That night, Marsalek met a friend, Martin Weiss, for pizza in Munich. Weiss called a far-right former Austrian parliamentarian and asked him to arrange a private jet for Marsalek, leaving from a small airfield near Vienna. The next day, another former Austrian intelligence officer allegedly drove Marsalek some two hundred and fifty miles east. He carried only hand luggage, paid the pilots nearly eight thousand euros in cash, and declined to take a receipt.
Philippine immigration records show that Jan Marsalek entered the country four days later, on June 23rd. But, like almost everything about Wirecard, the records had been faked. The rise of Wirecard did not occur in a vacuum. In the aftermath of the financial crisis, governments sought to revive depressed economies, and central banks suppressed interest rates, making it cheaper for businesses to get loans.
