Wirecard whistleblower Pav Gill shares his story with Fintech Netherlands — Transcript

Full transcript

1. 0:02[Music]
2. 0:05well thank you for having me uh I mean
3. 0:08it's a very long story it's a very crazy
4. 0:10story um I mean books and movies have
5. 0:13been made about it but at the end of the
6. 0:15day it's a story about Germany's largest
7. 0:17financial Scandal and how a listed
8. 0:20company that was once worth 24 billion
9. 0:23in market cap collapsed because it was
10. 0:26nothing more than a house of cards
11. 0:29[Music]
12. 0:31I think what was most fascinating is how
13. 0:32did this scam go on for so long and how
14. 0:36come it was so powerfully protected for
15. 0:3920 years and it only and despite this
16. 0:42was despite so many people trying to
17. 0:44expose this company right how come no
18. 0:46one did anything how come it was allowed
19. 0:48to exist for so long so I think that's
20. 0:50the fascinating thing is the case is the
21. 0:53question that if you really want to
22. 0:54carry out a successful fraud you need to
23. 0:56be bigger and Wilder and another a
24. 0:58smaller scale one because it seems like
25. 1:01you know no one wanted to believe that
26. 1:03this was a company that wasn't
27. 1:07[Music]
28. 1:09legitimate well I think people tried
29. 1:11it's not that no one did it you know a
30. 1:13lot of people tried the financial times
31. 1:14tried as well for 5 years before I came
32. 1:17along um there were many others as well
33. 1:20but no one listened to them no one
34. 1:21wanted to listen to them whereas for me
35. 1:23it was different because I was employed
36. 1:25by the company as head of legal for the
37. 1:27Asia Pacific region and and what I came
38. 1:31across I was instructed to investigate
39. 1:34and I direct access to all these
40. 1:37documents which other people never had
41. 1:39access to because those people were
42. 1:40trying to expose it from the outside not
43. 1:42the inside so I think that's what wiard
44. 1:44never expected and that's what led to
45. 1:47their
46. 1:48[Music]
47. 1:50downfall well they're very upset um they
48. 1:53tried for four months to when I was in
49. 1:55the company to make my life miserable um
50. 1:59when that didn't work they eventually
51. 2:00tried to send me on a oneway business
52. 2:02trip to
53. 2:03Indonesia and when that didn't work I
54. 2:06was forced to resign but even then they
55. 2:08didn't stop um and that's what forced me
56. 2:11and also my mom actually to you know do
57. 2:14something about
58. 2:17it well the company collapsed um I think
59. 2:22it was a few years ago 2021 22 I can't
60. 2:25even remember now but it collapsed and a
61. 2:29few EXs like are in jail they're on
62. 2:31trial in Munich some are in jail in
63. 2:33Singapore some in the Philippines and
64. 2:36Yan Mar's like the CEO together with
65. 2:38this other guy Ido Coran they on the
66. 2:41Interpol red notice list so yeah things
67. 2:44are still happening things are still
68. 2:45being
69. 2:49exposed well the advice is I mean short
70. 2:54carts are always very exciting and
71. 2:56tempting but I think if you do not
72. 2:58invest in corporate covenants that would
73. 3:01eventually lead to your downfall