Wirecard: Marsalek’s confidant Henry O’Sullivan arrested in Singapore – economy

The Munich I prosecution and other authorities had been behind him for a long time: Henry O’Sullivan, 46, British businessman and specialist in delicate transactions. Munich investigators consider O’Sullivan to be a key figure in the Wirecard affair, placing him at the top of a long list of more than 30 suspects. Framed by other alleged accomplices of hidden Wirecard board member Jan Marsalek.

O’Sullivan is under investigation in Munich for aiding and abetting the misappropriation of Wirecard assets. He would have helped Marsalek and his alleged gang set aside millions. Money with which the former darling of the Aschheim stock exchange near Munich would have rigged deals in Asia which, according to the Munich I prosecution, never existed. Marsalek and others are under investigation for, among other things, suspicions of fraud by the billions.

In Singapore, O’Sullivan is now in prison until further notice. City-state police arrested him on Monday. On Wednesday, he was heard by video in a district court, as reported by The Straits Times daily. According to this, there is already an indictment against O’Sullivan, it reads: Aiding and abetting the forgery of a document.

Open detailed view

Wirecard was based in Aschbeim near Munich. The traces in the case lead to Asia.

(Photo: Peter Kneffel / dpa)

O’Sullivan reportedly prompted Singapore-based Citadelle in 2016 to forge a confirmation of balance. With this document, in turn, Wirecard’s assets were tampered with in an alleged escrow account that didn’t even exist – in other words, at the heart of the fraud with which Wirecard was exposed in June 2020. It remains. to see if the allegations against O’Sullivan raised in Germany and Singapore are correct. The suspicions can also turn out to be false. The presumption of innocence applies until a final conviction is pronounced.

According to The Straits Times, O’Sullivan’s lawyer in Singapore on Wednesday requested that his client be released on bail. O’Sullivan supported authorities in the investigation. The release decision was postponed until September 8. The SZ tried unsuccessfully on Wednesday to reach O’Sullivan’s lawyer for comment.

The Munich prosecutor’s office I did not comment on the arrest of the Briton. However, it can be assumed that the Munich authorities will submit an extradition request. If Singapore doesn’t allow it due to its own investigations, the prosecution should at least try to question O’Sullivan there.

It all depends on a possible affirmation

Singapore is considered one of the main sites of the alleged billion dollar fraud by Wirecard, one of the biggest economic scandals in Germany. The shareholders lost more than 20 billion euros, the banks and the big investors more than three billion euros. Most of the money is gone forever.

According to investigators’ findings, Marsalek and his alleged gang in Singapore have for years forged a million dollar fortune in trust accounts through the local company Citadel. A legal case is already pending against the boss of the Citadel RS in Singapore and he faces a prison sentence. More recently, Wirecard’s suspected trust accounts were transferred to the Philippines, where the deception was exposed in mid-2020. Wirecard went bankrupt, Marsalek went into hiding and longtime CEO Markus Braun, who denies all allegations, has been taken into custody.

For the foreseeable indictment against Braun and other suspects, it could be important whether O’Sullivan comments on the Wirecard case. Or if he, as a suspect, prefers to remain silent.

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