Thread by @chickajig

@FunkyGiesing oh come on @fd
"Ley maintains that after he retired from #Wirecard, he was a “consultant” dealing only with selected contracts, strategic questions such as “entering the Chinese market”, and “conversations with political decision makers internally and abroad”."

@FunkyGiesing @FD general meeting 2016. Braun talked freely about his visions, walking all the time. Ley explained the hard facts. Later Braun sat down. He wanted to say something. No mike. Ley stood up, daid "Wait Markus,let me help you" and turned on the mike. The look in his face told a lot.

@FunkyGiesing @FD It was a 5-second-scene. But I will not forget the way Ley looked at his CEO and said "Wait markus, let me help you". It said "I take pity on you". Ley was much stronger than markus during the whole GM. When criticalk questions came he smiled them away while Braun stuttered.

@FunkyGiesing @FD During Project Tiger von Erffa was ready for an interview with EY. After Ley's (!) and Marsalek's intervention he withdrew from that offer (source: parliamentray inquiry)

@FunkyGiesing @FD There are lots of other interesting jigsaw pieces about Ley and his role for the late stage TPA after ~2014. But I won't spoil too much because of the forthcoming Ley case... hold the line...
and later Edo explained TPA/escrow. Edo who joined wirecard from Samwer, old Ley friend

@FunkyGiesing @FD according to Leogrande ("Bad Company") Ley knew Samwer from Sal. Oppenheim. In the earlier years Ley made "strange deals" with Herbst (remember Alasdair Pal), later he did the same with Samwer. Samwer is important #wirecard

@FunkyGiesing @FD The court case against Braun is completely absurd from the beginning. Leaving out Ley was always a mistake. It must be corrected. If you want the Stadelheim case not ending in a desaster you must halt it and start with Ley first. Then you get closer to the truth #wirecard

@FunkyGiesing @FD It was not Bellenhaus telling the whole truth, he was giving various versions until he met the tone the prosecution wants to hear. The role of Ley, according to my sources, was told very differently. The prosecutor made his choice... #Wirecard
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@FunkyGiesing @FD @fd OPEN YOUR EYES! #wirecard

@FunkyGiesing @FD "Ley said, “I was not involved in the creation or accepting of these balances.”"
Dan!!! Read yur own words here!!!

what does he really SAY and what does he want you to BELIEVE he is saying?
"while he was CFO, the cash balances were “€200mn and €300mn”."ft.com/content/14ed60…

@FunkyGiesing @FD Don't you see what you are doing here? You write in your own words what you BELIEVE to be the truth you BELIEVE is a fact because 1,9 bln were missing at the escrows. But Ley does NOT answer THIS.
#Wirecard
Dan, you are bright, just think about it!

@FunkyGiesing @FD Does his statement fit the fact that Bellenhaus says there never was ANY TPA? What Borgwerth did send you in 2016 and what was published in 2/2017 - was that different from what you think (!) you have found out?
That's what he's saying.

@FunkyGiesing @FD The wirecard business in the final stage was represented by cash at the TPA (like in Borgwerth) and cash on the trustee accounts (wirecards). This gets clear from the von Erffa statement.
Ley says "not my business" and talks about "200-300mln" which from my point sounds like 2016

@FunkyGiesing @FD By mentioning "200-300mln" he is trying to let you think that this has nothing to do with the "1,9 bln whole" (which in turn has nothing to do with what the TPA business really was). These distributions were just smoke bombs, as always

@FunkyGiesing @FD you did write a very important sentence, maybe in 2015, "wirecard changed its story several times". Yes, they did. So you had no chance to really value the business, except the "adjusted EBITDA" which Ley says is the only relevant number (and Cash flow).

@FunkyGiesing @FD It was Ley who said "Zatarra is complete nonsense" but it was Ley who asked Marsalek for details in a mail that clearly refers to Zatarra or Dohms (Mosbach! Dowson!). It's in the wambach report, hidden in a footnote and not the only evidence. wait for the ley case...

@FunkyGiesing @FD Read the reifenberger/hedtstück interview by Burkhard about Zatarra.
Believe me, I still can keep a lot of information in my mind and bring them together. It is a mosaic.
Ley always said "Don't care about anything, just look at the adjusted ebitda"

@FunkyGiesing @FD Read the earnings conferences...
and then he jumps into June of 2020 and says, "I have nothing to do WITH THIS" as if there was nothing in between...
"it happened 2018 onwards". No.
Commerzankfiles go back until 2013 and Dan's files even longer...

@FunkyGiesing @FD the business did not change, only the way the numbers have been balanced. So if there was business before and no business afterwards it makes no sense. And if Bellenhaus was right "there never was ANY business" Ley is even deeper into it than Braun. He will defend against it...

@FunkyGiesing @FD if you jail Braun before Ley defends against Bellenhaus it is A BIG MISTAKE.
So stop or halt Stadelheim NOW. Then you also get a clearer view on what EY did. Directly or indirectly by the EY guys that joined wirecard to "help" von Erffa? #wirecard

@FunkyGiesing @FD Ley signed the 3/2016 memorandum.
Ley initially offered to give insight into his bank accounts and later refused to (Wambach report)
It was LEY whoi blocked it, vE followed him. So if vE is part of the gang, why isn't Ley? It makes no sense!

@FunkyGiesing @FD if LEY would have to defend himself against Bellenhaus and not against that London bullshit, we would learn more about what happened, believe me.
oans in the Monarch case are questionable? Ley? So why not look at those loans in Stadelheim? Because the court divided wirecard

@FunkyGiesing @FD They divided wirecard into "TPA vs non-TPA" although Braun says "there is a sector dicision, not a TPA/non-TPA" division and so on and so on and so on
Dan, Dan, Dan, take your bright mind and your good eyes and look into stadelheim. PLEASE!!! #wirecard

@FunkyGiesing @FD In March 2017 EY talks about not giving a clear audit.
29.03.17 board meeting with EY, topic "no clear audit"
30/03 Ley talks to Marsalek
03/04 Braun becalms EY, "new cfo in India" (Kurniawan?)

@FunkyGiesing @FD what happened?
whistleblower says "ebitda manipulation at hermes, done with the knowledge of von Erffa"
vE wanted to give an interview
Ley intervened with Marsalek
Braun was the idiot at the end to say "it's fine, it's fine"
#wirecard
see wambach report, read it!

@FunkyGiesing @FD The only "fact" is an ebitda manipulation at Hermes. What was the effect? The earn-out was paid. Who profited?
EY did no real investigation.
what would they have found?
Ask Pav Gill, who says "the money left singapore, maybe to India, we don't know"

@FunkyGiesing @FD what does the media say? "it was round tripping by Braun, the mastermind".
Makes no sense!
Braun in total control would just have asked Bellenhaus to fake a few bills and stuff. As it happened in Dubai later, together with Edo.
Edo who did this in Singapore. To get the earnout?

@FunkyGiesing @FD If you would see Singapore as a mixture of personal embezzlement (as it obviously is seen by the singapore court! see singapore newspapers) and fraud against (!) the interests of Braun, you would get a step further.
#wirecard

@FunkyGiesing @FD The gang knew that no money reaches the trustee accounts, so of course they could use the money for whatever they want to...
They only had a problem in the case of "Strategic", whre 50 (real!) million from wirecard should be. But they have been gone. so shan faked the account

@FunkyGiesing @FD this is also in the singapore court reports!
read


"Shanmugaratnam asked Thilagaratnam to be Strategic’s nominee director some time in or around early 2014."straitstimes.com/singapore/cour…

@FunkyGiesing @FD (this was a year after the first half of 345 payments in the commerzbank list!)
"Between December 2014 and September 2015, Strategic received more than €54 million from Wirecard AG"
real wirecard money for M&A.

@FunkyGiesing @FD the monies were later transferred to various parties, adding: “These transactions purportedly related to Wirecard AG’s planned acquisitions of companies in Brazil and Panama.
This is wrong as we know from commerzbank files and 2018 data

@FunkyGiesing @FD money IN for M&A correct
money OUT for M&A: wrong. No acquisitions!
"between March 29, 2016, and April 7, 2018, Shanmugaratnam prepared seven letters from Strategic addressed to Wirecard AG and handed them to Thilagaratnam"
"54 mln are (still) here (as Braun(vE thought?)"

@FunkyGiesing @FD Shan's brother who did know nothing confirmed a balance which was exactly the same as the amount paid by wirecard on the account to trick EY? Does this make sense or could it be that it should trick vE to believe the money is still there?
#wirecard
police.gov.sg/media-room/new…

@FunkyGiesing @FD The story that is told in Singapore fits to the Braun version, but not to what Bellenhaus said...
And who knew O'Sullivan?
Bellenhaus? Marsalek? Ley?
Braun???

2 Blues brothers, no Braun!
THINK!

@FunkyGiesing @FD Aretha Braun, Jan Marsalek and Bellenhaus/O'Sullivan ;)
30/03/2017 EY talked to Ley/Braun about "open demands". There were no docments to prove it
1 month after Borgwerth (which was openly discussed a year before, 5/16, so anyone had enough time to plan/do anything...)

@FunkyGiesing @FD at the same time "we have a new CFO in India"
who was it? edo? The solver of the problem who was at Ley's old friend from Sal Oppenheim, Samwer, before?
Does it fit? And what does it mean?
#wirecard

@FunkyGiesing @FD who faked the december 2019 transactions in Dubai according to bellenhaus?
Edo, Jan, Oli & Manoj
according to my sources there had been 5 men, so he is the missing fifth?
I know it, I am sure. And @vterhaseborg could know it as well. A surprise.

@FunkyGiesing @FD @vterhaseborg If the court would not have allowed Bellenhaus to refuse from answering any question by the defence and (!) the jufge (!) maybe we could all know this or that bit more here, Dan.
I know the answers anyway, because I read a lot and nuances matter

#wirecard

@FunkyGiesing @FD @vterhaseborg I read and I read and I read and - there the similarities to Marc Cohodes end - I even read and read after wirecard went down to zero. I am not addicted to making money and being the short seller hero or a homaged journalist.
I need understanding

@FunkyGiesing @FD @vterhaseborg Wirecard is not the story of some money that got away. This happens every day. Wirecard is the story of what the german stupid money establishment is doing when it gets a slap in the face and is exposed by a London social worker and a mischievous Alphaville guy...

@FunkyGiesing @FD @vterhaseborg Fraser got the money, you got the fame and before anyone could count to 340 million of wirecard money hidden in a swiss bank account we had the full story on every news magazine. The rest was a text book example of disaster management by the establishment

@FunkyGiesing @FD @vterhaseborg I could talk for whiles and whiles and whiles because I can see for Miles. #wirecard

@FunkyGiesing @FD @vterhaseborg @threadreaderapp unroll this please