I could see that she was very nervous and dependent on her children but with Grandpa gone the children had much less time for her. I am glad McCrum (Easter egg for Borat fans) didn't try and deify the short sellers as most of them are complete scumbags. Leo Perry of Ennismore Fund Management tells McCrum: “'Faking profits, you end up with a problem of fake cash. The collapse of Wirecard is spectacular not so much for money laundering and having a COO with obscure connections to irregular organizations; but because, for ten years it was supported and protected by auditors, regulators, most newspapers, and financial institutions. Which meant they bought old rags, sorted them into grades and sold them to cloth merchants for recycling.

From there, he documents the unexceptional origins of Wirecard in Germany and the company’s ensuing rapid global growth (including a Dublin office).Again and again I pushed these feelings and thoughts away, as my attention became more focused on what the files revealed.

For a few minutes I followed her around the kitchen, talking excitedly as she offered me almond cookies and hazelnut treats before dinner. The book toggles between two stories: what was actually happening with Wirecard at the time, and the parallel investigation being undertaken by McCrum and the FT.Once again, as we've seen happen with Elizabeth Holmes' case, money finds a way to bring power by gathering influential people, who are able to give the appearance of legitimacy to the most striking of frauds. This behind-the-scenes look into the years of work and the persistence that was required to topple Wirecard is nothing short of incredible. No missing or damaged pages, no creases or tears, no underlining or highlighting of text, and no writing in the margins. We were the working class he had defended, not the cream of society, who so often sought the services of Sir Christmas Humphreys. It's a bunch of short minded people born on third base thinking they hit a triple taking advantage of their position they've reached in life to make millions without repercussions.

There's a cat and mouse game between the company and McCrum that ought to be exciting, but by describing the hundreds of other cats and mice all playing small (or unknown) roles, it feels like reading a company's annual report. I’d dashed home from school stuffed my saddle bag, checked the tires on my bicycle, kissed my mom on the cheek, received at least ten warnings about cycling safety. As I shuffled through files in a rusty file cabinet I felt overwhelmed by the sense that I should not be here. It shows how the accounting firms (EY in particular here) and regulators (especially the German BaFin) are so easily misled by multinational businesses that can hide their scams in hard-to-see locations like the Philippines let alone in secrecy jurisidictions that we know so well about (many in former British Empire locales). Only the main players, or all of those around them that 'legitimized them' by not looking deep enough, when their sponsorship works as a certificate of good standing for the rest of the world?Our editors thoroughly review and fact-check every article to ensure that our content meets the highest standards. The book lists a cast of characters at the beginning because dozens of people play a part, but there is no focus other than findkng a way to get the truth out about Wirecard. Detailing the enabling role of Deutsche Bank and SoftBank, McCrum exclaims in frustration: “How many times does a company need to be accused of fraud for those overseeing it to start playing detective? I like to understand the people who perpetuate large-scale frauds and the details of how they pull it off.

Martha Weston was the author and illustrator of two charming picture books about Tuck, as well as the illustrator of Clarion's successful Owen Foote books by Stephanie Greene. Dan McCrum is a proper reporter: there is no threat, con trick or hangover that will stand in his way.

TL;DR: Interesting read, oftentimes a bit technical in capital markets/ financial lingo, but astonishing work of investigation and resilience by the FT investigative journalism team. A visit to Bahrain to check the company out finds little but denials and a closed office at the company's supposed address. Indeed, we follow strict guidelines that ensure our editorial content is never influenced by advertisers. Eagerly I lifted the receiver, but instead of the client with the challenging case I was hoping for, Mum’s voice came at me in a rush. There were plenty of details brought up that didn't really seem to ever be followed through, or even brought to some resolution of the type "the trail went nowhere", while other, frankly uninteresting discoveries get pages-worth of attention.