Exclusive
Status: 01.09.2021 2:03 p.m.
The British businessman O’Sullivan was arrested in Singapore, he is said to be a close confidante of the hiding Wirecard board member Marsalek.
The Munich I public prosecutor’s office is investigating him on suspicion of aiding and abetting the embezzlement of Wirecard assets: James Henry O’Sullivan, 46 years old, British businessman and has been on the run for months. Together with former board member Jan Marsalek, he is on the list of suspects in the Wirecard case, which includes around 30 names.
According to the Munich I public prosecutor, he is said to have helped Marsalek and his alleged gang at Wirecard to put aside high amounts of millions – money with which Wirecard is said to have faked huge deals in Asia that, according to the Munich I public prosecutor’s office, never existed. Marsalek and others are being investigated, among other things, for suspected fraud in the billions.
Arrested in Singapore
Like Marsalek, O’Sullivan was considered to have gone into hiding, and authorities were looking for him around the world. In Asia he now apparently went online: In the city-state of Singapore, the British businessman was arrested on Monday, according to the newspaper “The Straits Times”, and heard by a district court on Wednesday by video. According to the newspaper, there is already an indictment against O’Sullivan, it read: aiding and abetting the forgery of a document.
The Briton allegedly instigated the Singapore-based Citadelle company to forge a document. With this document, in turn, Wirecard assets were faked in an alleged trust account that did not even exist. The presumption of innocence always applies until a final conviction has been reached.
According to The Straits Times, O’Sullivan’s lawyer is said to have demanded that his client be released on bail. O’Sullivan supported the authorities in the investigation. The decision on a release was postponed to September 8th.
City-state central location of the affair
Singapore is considered to be one of the central locations in the alleged billion-dollar fraud by Wirecard, one of the largest economic scandals in Germany. Shareholders have lost more than 20 billion euros, banks and large investors more than three billion euros.
According to the investigators’ findings, Marsalek and his alleged gang in Singapore are said to have faked a million dollar fortune in trust accounts for years through the local company Citadelle. A court case is already pending against Citadelle boss RS in Singapore and faces jail time. Most recently, the alleged trust accounts at Wirecard were relocated to the Philippines, where the deception was exposed in mid-2020.
O’Sullivan’s statement may be crucial
Wirecard went bankrupt, Marsalek went into hiding, and long-time CEO Markus Braun was taken into custody. So far, this has rejected all allegations. For the investigation against the ex-CEO, it could be important whether and what O’Sullivan testifies – or whether he makes use of his right to remain silent.
The public prosecutor’s office in Munich I did not comment on the arrest of the Briton. It can be assumed that the Munich authorities will submit an extradition request. Should Singapore not allow this because of its own investigations, then the Munich public prosecutor should at least try to question O’Sullivan there.