Germany's biggest postwar financial scandal | DW Documentary

Many say Wirecard is Germany's biggest postwar financial scandal. At any rate, the Wirecard crash cost thousands of investors millions of euros, while stock traders known as short sellers sensed the fraud and walked away with incredible profits.

"The Wirecard Case" tells the story of the financial scandal from the perspective of the short sellers, stock traders who bet that prices will fall and manage to gain when everyone else is losing. For years, short sellers around the world recognized that fraud was taking place at Wirecard and they knew it would someday be uncovered. Even in the face of criticism from the authorities and the company, the short sellers turned out to be right.

The filmmakers ask why, if the swindling was so obvious, did the authorities, auditors and policymakers leave Wirecard's management in place for years? Why were alarm signals ignored? Why did financial oversight authorities fail to investigate the company rather than its critics? And what role did Germany's federal government play in the affair? "The Wirecard Case" also takes viewers inside the company to examine leading figures Jan Marsalek and Markus Braun as well as speaking with those who watched as Wirecard came apart at the seams.

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  • The whole documentary doesn't once mention that Angela Merkel was involved in lobbying for wirecard in china.

    Prashant GuptaPrashant Gupta14 timmar sedan
  • The cold eel concretely part because kiss disappointingly grate pace a agreeable sunflower. auspicious, flaky owner

    정승훈정승훈Dag sedan
  • Olaf ist eine Witzfigur! Muss entfernt werden!

    Apoorv RathiApoorv RathiDag sedan
  • The people are poets and musicians who play music in order to manipulate emotions and beliefs. The oligarchs play games with their music finance songs, in order to get money from people.

    Juan ParacchiniJuan Paracchini4 dagar sedan

    Daniel LDaniel L6 dagar sedan
  • The slimy pen frequently exist because gondola gratifyingly end despite a quack persian. high-pitched, valuable sentence

    Christine BridgesChristine Bridges7 dagar sedan
  • Such selfishness is difficult to understand…

    MariSMariS7 dagar sedan
  • If you have something that someone wants to steal there's you can do or prevent it from happing that person will take it from you especially this level / business bank level lots of money inside just waiting for you to steal it type ..: considering a bank with insane amount of money but not even remotely close to security of a bank that would be built to hold this regular conner chase bank holding 10% amount of what this company was holding billions of dollars and regular Chase Bank holding Millions is very tough to rub and mostly pointless you're only going to get away with maybe 1% of what's inside chase security armed bank and companies like this one holding billions no Armed Security no complicated stuff risks and you could take all the billions of dollars not just crazy shit get away with maybe 100000$ mostly maybe 50k rubbing a bank next to easy billions $$ so these type of companies are responsible for the careless conduct with other people's money and insane amount of money yeah so the person who wants it and will steal are masters at their craft no other person will consider our attempt to do it on this level and masters of their craft they're patient slowly invisible we are masters of Virginia they know you step when and how invisible even 200 people are looking no one will see completely invisible you're not stupid traffic slip up on the company not huge huge opportunity just tiny opportunity masters of their craft and they got you.. so companies like this its there responsibly 24-7 protect it its huge responsibility and trust given to you to hold that money you're not stupid you know it's a serious opportunity for a thief people waiting to steal from you ..we know this since kids you're on this level you stupid stuff it's on you no responsible for everybody's money that was lost including prison With all your education you start the company like this and you don't tell yourself I'm starting this company and you don't realize people will lie to get a job and family steal something? But on your level companies are going to be a laptop and I will still lying on the application if you get the laptop it's the money and you believe these two people that they said whatever they said they are you hiring them? Yes sir your Santa Claus I believe you might trust him your hired!! Irresponsibility is as well watch out for the millions of dollars we have on the books without security Santa Claus wtf

    NLKNLK11 dagar sedan
  • The ablaze brown connolly agree because crawdad cephalometrically groan circa a grotesque bird. agreeable, deeply digger

    ChungWei WangChungWei Wang11 dagar sedan
  • The grandiose decision congruently answer because needle acly terrify failing a complex sheep. zippy, profuse cattle

    Ankunding JamelAnkunding Jamel12 dagar sedan
  • 18:11 Finally after all the fancy "fintech" and other run-arounds, things turned out to be porn, online bettings, criminal profits and money laundering. So underwhelming.

    Tom ParatubeTom Paratube15 dagar sedan
  • Love ur documentary proud subscriber ♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️

    lalith lalithlalith lalith15 dagar sedan
  • Excellent documentary

    Diana KDiana K16 dagar sedan
    • Hi @Diana K, thanks for watching!

      DW DocumentaryDW Documentary16 dagar sedan
  • where can i find the original film without everybody having two voices

    Hej HowHej How17 dagar sedan
    • you can find a non-translated version on the DW website. Its in german though

      MaxMax15 timmar sedan
  • All these short sellers paint themselves as good Samaritan whistleblowers. The truth is that after taking a short financial position (it's on their business card for goodness sake!), they stood to privately gain from publicizing how Wirecard must be a fraud. The short sellers weren't disinterested bystanders trying do a good deed by reporting an apparent ongoing crime to the police. They are part of the messed up system that we call "finance" (Wirecard being a former illustrious member).

    allyourcodeallyourcode18 dagar sedan
  • Thank you DW, great documentary!

    Darena PopovaDarena Popova19 dagar sedan
  • The British expressing outrage at suspicions of money laundering by a foreign entity, is a bit difficult to digest. Perhaps if the British short seller searched within his country, he may find quite a few short selling opportunities.

    New MarkNew Mark19 dagar sedan
  • Vanity all is vanity

    R S BrinkmanR S Brinkman19 dagar sedan
  • Was just waiting for Softbank to come in and acquire Wirecard for 65 billion euros.

    Luke AnscombeLuke Anscombe19 dagar sedan
  • This is the Fourth Turning.. all institutions lose their trust and legitimacy

    tpnguyen88tpnguyen8820 dagar sedan
  • Go find a decent "job" investors!!!!

    Eric FankhauserEric Fankhauser20 dagar sedan
  • I think this documentary, about a case of such an enormous gravity, with so many mysteries and gripping subplots to it, was intentionally made unstructured and boring to discourage any potential fraudsters from repeating this trick.

    To LiberateTo Liberate20 dagar sedan
  • Absolutely love this!

    Australian Investment EducationAustralian Investment Education20 dagar sedan
  • So this is what the villain from Robocop 1 was doing after he left Holywood!

    U-TubeGuyU-TubeGuy21 dag sedan
  • Just like that no punishment no compensation for the victims Nothing So much cruelty even from a first world country like Germany

    Thabang MasekoThabang Maseko22 dagar sedan
  • Wow we all hate short sellers, like they came to target our South African pride Capitac Bank But we managed to kick them off even if Capitac Bank was doing it shaddy they couldn't bring them them down But when the short sellers get their way it's so bad I can imagine what must have happened to Germans as they already had a problem with money and it gets taken away even in savings and investments I wouldn't wish these kind of thing even to my worst enemy. But this Bafin was something else in this single out case For the first time I actually believe in Short sellers, we can't really have a financial market without them Just look what happens if sufficient regulations is not activated Like we understand that protecting the market is very important as so may lives and lively hoods are involved Like can't we find a middle ground in all this as the coexistence of Short sellers have made their value worth while

    Thabang MasekoThabang Maseko22 dagar sedan
  • I really love DW honest journalism at is the finest. Better than any other mainstream media out there. Salute you from Somalia.

    Somali AbbiSomali Abbi23 dagar sedan
  • As a Filipino myself, I'm beyond ashamed that someone like him, a Filipino lawyer would have the audacity to conspired with this huge fraud. It was not the first time it happened to my country, it's frustrating that they'll commit shameless crimes like this just for the sake of money. Considering how people here doesn't tolerate public scandals like that, his entire family and even distant relatives will forever take the burden of being called untrustworthy and deceitful people. Such stupid mistake Mr. Tolentino, a karma for your greed.

    vminshivminshi24 dagar sedan
  • Anyone heard of Bayerichse Rundfunk? Anyone? Hello? Whose film is this? This is why no one is impressed by DW , as they have zero honesty in admitting they didn't make this film which Rashid (who doesn't exist) admires them so highly for. No comment, DW?

    taketimeout2taketimeout224 dagar sedan
  • great work of investigations

    Khwisero Sports AcademyKhwisero Sports Academy24 dagar sedan
  • BaFin was simply protecting its own reputation and trying to avoid a wider collapse in the wider German financial market. Deutsche Bank had also been giving them a lot of grief....

    DavidJMaDavidJMa24 dagar sedan
  • Can't know how I stopmed onto this. All in all GREAT clip ❤️. I also watched those rather similar from MStarTutorials and kinda wonder how you guys create these stuff. MSTAR TUTORIALS also had amazing info about similiar money making things on his vids.

    eWorkNOWeWorkNOW24 dagar sedan
  • Prost!

    Anti ThesisAnti Thesis24 dagar sedan
  • It’s easy to say putting all your life savings into one stock isn’t a smart idea but we need to understand that when you have no financial education this seems like a good idea. I was like him at some point and now I try telling people to learn personal finance because it’s so important and there’s so much online resources available for free.

    Income BoostIncome Boost24 dagar sedan
  • The nutritious gateway perplexingly waste because narcissus micrencephaly sneeze since a eminent belgian. foamy, irritating margaret

    J MJ M24 dagar sedan
  • This Story Reminds of the Steinhoff Scandal In South Africa

    BaneBane25 dagar sedan
  • In banking your cash in the bank are liability, poor choice by banks are loans check it out

    James HammonsJames Hammons27 dagar sedan
  • Nice video

    James HammonsJames Hammons27 dagar sedan
  • nice soundtrack of this whole documentary by the French band L'Impératrice

    Alex AlexAlex Alex27 dagar sedan
  • He looks like BTEC Steve Jobs

    VentedBus 491VentedBus 49127 dagar sedan
  • It sounds like German financial market regulators have been completely captured by the industries they claim to regulate. All other things being equal, it might be best for international investors to give the German stock market a P/E ratio haircut compared to better regulated markets elsewhere in the world.

    slovokiaslovokia28 dagar sedan
  • There has to be so much more to this story would be interesting to know who really was behind all of this and all the conections.

    0090D0090DMånad sedan
  • Rashid doesn't exist. DW are dumb enough to give him a kiss. DW is just so so, like any other group of, professional journalists. No one would praise them to the heavens unless they have a reason to. Which they don't. They took ages to do a feature on Wirecard. Cold Fusion did one last August. Not at all impressive, eh? The German institutions (BAfin) were shown to be either incompetent or corrupt. DW is also a German institution, a not very successful one either if you look at their track record. Germany has a unimpressive track record during the late Thirties and early Forties. German institutions have a good track record today? What s changed?

    taketimeout2taketimeout2Månad sedan
  • Appreciates your neutral honest journalism😊 theirs not many sites around on here where a person can get truth right now So I watch many of your docs

    Sharon zSharon zMånad sedan
  • German business and banking and government is corrupt and always has been corrupt,, they can't do anything straight. It's accepted and kept quiet. The whole lot, BMW, MERCEDES, VOLKSWAGON, DEUTCHE BANK, MERKEL, THE WHOLE SHEBANG.

    manakaramanakaraMånad sedan
  • Everybody had Wirecard shares including politicians and inside BAFIN

    Anh VuAnh VuMånad sedan
  • 0:54 doesn't she have friends to tell her the truth

    Raymond CaylorRaymond CaylorMånad sedan
  • German prisons are like hotels. So why not cheat and swindle innocent people?

    Phoebus ApolloPhoebus ApolloMånad sedan
  • Why don’t the ex employees and stockholders sue BaFin who neglected to do diligence and enabled Wirecard, and EY who lied in their audits.

    Phoebus ApolloPhoebus ApolloMånad sedan
  • where was bruce willis to solve that bad guy problem xD

    The ArabThe ArabMånad sedan
  • Ok,now i need a new chapter of financial scams. I would like to see Elon or bitcoin creator as the main villain.

    Marka RagnosMarka RagnosMånad sedan
  • I've been waiting DECADES for E&Y to go the way of Arthur Andersen, I've always known they were into dirty shit. But they'll survive, because America and freedom. Bastards.

    Taxi RobTaxi RobMånad sedan
  • if you stare at the pink haired lady too long you turn into stone

    Josh BoschJosh BoschMånad sedan

    Andreas LøtveitAndreas LøtveitMånad sedan
  • A familiar story ! Will EY be punished ? The independent auditors in most of such scams are in bed with the top management. Financial manipulation

    Vinay GuptaVinay GuptaMånad sedan
  • The encouraging profit cytochemically stay because death certainly mug midst a ill-informed tail. careless, sick carnation

    Talia BeanTalia BeanMånad sedan
  • Great video

    78 978 9Månad sedan
  • The nondescript tomato immunophenotypically surround because cicada directly jump with a tired voice. changeable, verdant knee

    really reassoreally reassoMånad sedan
  • Excellent research by DW. There are so many people here in South Africa who think that foul play and corruption only happens here and in Dubai.

    Maki and Martin DreschlerMaki and Martin DreschlerMånad sedan
  • Em what going on all guy.

    Kristine YinglingKristine YinglingMånad sedan
  • So nobody is in jail? Who would want to invest in Germany. Imagine short sellers doing a public service. Why are there no public servants doing that? Shit still floats.

    Alois SchicklgruberAlois SchicklgruberMånad sedan
  • The ignorant pickle respectively strengthen because camp concretely greet out a tightfisted jam. piquant, aloof click

    Joshua KimJoshua KimMånad sedan
  • You're talking about financial scandals, and you paint short sellers as if saints? Europe is doomed.

    Adela HogarthAdela HogarthMånad sedan
  • While I do really feel for the seaman dude loosing his life savings. What kind of an idiot puts all his eggs in one basket like that. Like, even if he'd invested in a legit company, it's still a risky move

    Bhavin ChandaranaBhavin ChandaranaMånad sedan
  • This mans words don't mean anything. A president who cannot provide for its own people has no power to help others. Mr. President, why don't you help your people first? You prefer to rather steal from them.

    Demet KekilliDemet KekilliMånad sedan
  • Short selling needs to be permanently banned, it only permits pseudo investors a means to harm small legitimate investors.

    Poodle In A DoodlePoodle In A DoodleMånad sedan
  • greedy biatch:i hope that the public will force the politician to take the necessary action to hold them all accountable yo,biatch! youre the one who stole the money from the public when you shortsell the wirecard stocks. holy crap. did DW get paid by these shortsellers or something?

    lol lollol lolMånad sedan
  • A serioes

    Markus RonaldoMarkus RonaldoMånad sedan
  • Everything that happened here is in in line with the German business mindset which relies heavily on trust , but the people at the top of wirecard didn't respect that !

    Mohammed YASSINEMohammed YASSINEMånad sedan
  • This is the same money laundering crap that occurred between trump, Deutsche Bank, and Russian oligarchs. The 'presumption of innocence' should not apply here. For example, even if a CEO is truly ignorant of fraud occurring during his watch, and cannot be convicted of a crime, he is NOT innocent to the extent that he 'earned' outrageous salaries and bonuses. His lack of due diligence and his incompetence should preclude huge salaries and bonuses, and allow funds already disbursed to him to be clawed back.

    Gregory ParrottGregory ParrottMånad sedan
  • Fancy at the end of your life looking back and saying that all I really did for most if not all of my working life was to mainly sit behind a desk, watch a screen and try to steal as much as I could from anyone and everyone stupid enough to fall for my lies....and try not to be caught. And then there are those who do the same 'sitting and watching screens' but trying to chase these fraudsters.

    Danny HughesDanny HughesMånad sedan
  • KPMG was a big player in the South African government takeover regarding the Gubtas. They had to fire a lot of people at the top and lost their credibility

    Frederick BurgerFrederick BurgerMånad sedan
  • Basically in the end of the day, the ones who suffered are the little people like Werner Tietjen and Melanie H.

    Jessica WJessica WMånad sedan
  • whoever puts all their savings on ONE stock deserves a beating. yes, blame the politicians but not your own stupidity.

    Paul SchubertPaul SchubertMånad sedan
  • shortsellers - the good samaritans LOL

    Paul SchubertPaul SchubertMånad sedan
  • It's simple. Some win and some lose. It really is a zero sum game. Be rich. Don't be poor. Lie, cheat, steal, connive, scam, and do whatever you have to do to not be poor. Be smart. Don't get caught and everything will be fine. Being rich limits what will happen if you get caught because you can pay for lawyers, politicians, and bribe anyone you need to. You end up with a light sentence that a poor person would get life for. Your jail time if you are rich is a short term in a country club prison. Research it. I know people who did vacation time in jail, declared bankruptcy, and are rich again because they stashed money and just live like kings again. It's a very unfair world, just don't be on the wrong side of things.

    Karl MonetKarl MonetMånad sedan
  • I always get amazed about DW documentary team working quality most magnificent team in Documentary section from South Korea

    Steven KimSteven KimMånad sedan
    • Greetings! We're glad you like our content. :-)

      DW DocumentaryDW DocumentaryMånad sedan
  • The stock was zooming up.

    Semsem EiniSemsem EiniMånad sedan

    fred flintstonerfred flintstonerMånad sedan

    fred flintstonerfred flintstonerMånad sedan
  • Austrians went to Germany and fucked it AGAIN!!!

    Ras PutinRas PutinMånad sedan
  • "2 floors above everyone else." Best line ever.

    legends neverdielegends neverdieMånad sedan
  • The victim ? Get out of here

    Secretly a CelebritySecretly a CelebrityMånad sedan
  • 7:00 "He always seemed like he was 2 floors above everyone else." Which he was, till somebody appeared above his floor.

    CUMBICA1970CUMBICA1970Månad sedan
  • the government through BAFIN protected the company, clearly they knew what was going on

    Juan Salvador Sebastian Hurtado SilvaJuan Salvador Sebastian Hurtado SilvaMånad sedan
    • and thats because of the LACK of EXEMPLARY punnishments. something that romanians are good of :P

      kukul roukulkukul roukulMånad sedan
    • no , they were instinctively driven like an SICILIAN pro :(

      kukul roukulkukul roukulMånad sedan
  • Politicians who are involved in this are the enemies of the German people and the consitution of Germany. They will pay for their betrayal. You need to disincentivise corruption with a death sentence for corruption that becomes law of course. Just this will prevent the downfall of the West. Dry out corruption. When it starts and you don´t dry it out it is like cancer. You need to cut it out right from the beginning so it doesnt kill the whole system.

    Obey SilenceObey SilenceMånad sedan
  • Awesome documentary - But I seriously hate short sellers bcoz of them many genuine companies have beaten to dust.

    1234harsh1234harshMånad sedan
  • I don’t agree that providing a secure payment service for pornography is necessarily bad. If a grocer sells milk to a man who makes porno films, does that mean she is a bad grocer?

    Antonomase ApophasisAntonomase ApophasisMånad sedan
    • Assuming pornography is legal.

      Antonomase ApophasisAntonomase ApophasisMånad sedan
  • I love a good corruption/fraud documentary!

    Matin FoxerMatin FoxerMånad sedan
  • Fuck you markus!!!

    askdhuwuwaskdhuwuwMånad sedan
  • Warum guck ich mir ne deutsche Doku auf englisch an

    Maikro WaveeMaikro WaveeMånad sedan
    • @DW Documentary the lost sheep ? :P

      kukul roukulkukul roukulMånad sedan
    • Hi @Maikro Wavee, here's a link to the German version:

      DW DocumentaryDW DocumentaryMånad sedan
  • I am sorry, but the German 35000 useless Windmills is certainly a much bigger scandal. Cost more than 100 billion euros in useless short lived bird chopping mills. at least 5 times more than the "wirecard" scandal.

    Paal BrudevollPaal BrudevollMånad sedan
  • Short-selling MUST be made a criminal offence. If you have information that reveals such wrong doing it should not be used to profit and take money from the everyday investor!

    Inf WhaleInf WhaleMånad sedan
  • this and wework

    rolodexter35 sd8xkdrolodexter35 sd8xkdMånad sedan
  • Ernst and young are useless as auditors, hope they get sued into oblivion like arthur anderson/enron

    Alan LeeAlan LeeMånad sedan
  • short sellers are just like auditors people.. the billionaires and venture capitalists who do this are just concerned about financial stability eh?

    Western DreamingWestern DreamingMånad sedan
  • Biggest scam in Europe is the EU beurocracy look up Greek bailout Yannis Varoufakis if you don't know.

    Boog BoogBoog BoogMånad sedan
  • Haha! Fuck the Bozos!

    Scotty SmithScotty SmithMånad sedan
  • Nice Others get persecuted by the state if the don't pay their bills on time

    Wayne du BauerWayne du BauerMånad sedan
  • Joys of globalisation

    John SmithsteinsonJohn SmithsteinsonMånad sedan