Wirecard Fraudsters Looted $1 Billion From The Company Just Before 'The Hammer Came Down'

Yesterday, we reported that a former Wirecard business partner named Christopher Bauer who likely played a key role in the $2 billion accounting fraud that was exposed in June, precipitating the company's slide into bankruptcy, had apparently turned up dead in Manila. Or that's at least what Bauer wanted the world to think.

As the FT's digging into Wirecard's sprawling fraud takes its reporters across Southeast Asia, the paper's intrepid reporters have apparently found a series of suspicious loans to Bauer's third-party company, an couple other Wirecard 'payment partners' that look more like the company was being looted by executives and probable participants in the fraud right before the hammer came down.

That hammer came in the form of KPMG's independent report, which was, ironically, commissioned by the company under pressure from the media and investors. These loans were made to partner companies in the Dubai, Singapore and Philippines, further complicating, and potentially obscuring, the fraud. Bauer's former company, PayEasy, and a handful of others named below.

Here's more from the FT:

Money flowing out of the company accelerated in the months before the collapse. About €155m appears to have been paid out over the first three months of 2020. The bulk of the new loans extended in early 2020 went to Ocap — a Singapore-based company run by a former Wirecard executive whose wife at the time still worked in a senior position at the company. In the first quarter, Ocap received almost €100m, giving it a total debt to Wirecard of €230m, according to a document seen by the FT and two people familiar with the matter. Ruprecht Services, another Singapore-based payments company, received a loan of €40m in the first quarter, lifting its total outstanding debt to Wirecard to €53m, according to a person familiar with the details. It suspended operations this week. The additional lending to the two Singapore-based entities pushed Wirecard’s total loans to business partners in Asia to €870m ($1bn) by March 2020, according to a document seen by the Financial Times. The additional lending came even as KPMG was conducting a special audit at Wirecard in an effort to confirm or refute allegations published in the FT about accounting fraud at the company. Loans also went to Al Alam in Dubai, PayEasy in Manila and Senjo in Singapore — three companies that Wirecard has in the past said processed credit card payments on its behalf in jurisdictions where it did not have its own licences to operate.

Meanwhile, authorities in Singapore have arrested another senior Wirecard executive who allegedly helped the company hide the $2 billion hole in its balance sheet by signing off on fraudulent reports.

https://www.zerohedge.com/geopolitical/wirecard-fraudsters-looted-1-billion-company-just-hammer-came-down

Portland Mayor Turns On Protesters, Accuses Them Of 'Attempting To Commit Murder'

Three weeks ago, Portland Mayor Ted Wheeler was standing shoulder to shoulder with angry protesters, gagging on tear gas in a show of solidarity against federal agents sent there to restore order.

Now, the federal agents are gone as Wheeler's city continues to spiral out of control.

On Thursday evening, Wheeler condemned rioters who tried to torch a police precinct after blocking the exits while officers were still inside, according to Fox News.

"When you commit arson with an accelerant in an attempt to burn down a building that is occupied by people who you have intentionally trapped inside, you are not demonstrating, you are attempting to commit murder," said Wheeler in a joint press conference with Police Chief Chuck Lovell.

"Don’t think for a moment that you are if you are participating in this activity, you are not being a prop for the reelection campaign of Donald Trump — because you absolutely are," he added. "You are creating the B-roll film that will be used in ads nationally to help Donald Trump during this campaign. If you don’t want to be part of that, then don’t show up."

On Wednesday, a riot was declared after protesters swarmed the Portland Police Bureau's East Precinct Building - breaking glass doors, lighting a fire using an accelerant, throwing fireworks and other objects at officers, and spray-painting over security cameras. According to the report, someone in a truck also tried to run over police officers.

The front doors of the precinct were barricaded before the fire was started with more than 20 officers and civilian employees inside, police said, according to FOX 12.

Officers used tear gas to disperse the rioters and at least eight people were arrested. A federal court order bars police from using tear gas unless a riot is declared.

“I believe that city staff could have died last night,” Wheeler said. “I cannot and I will not tolerate that. This is not peaceful protests. This is not advocacy to advance reforms.” -Fox News

"If you are a nonviolent demonstrator and you don’t want to be part of intentional violence, please stay away from these areas," said Wheeler. "Our community must say that this violence is not Portland, that these actions do not reflect our values and these crimes are distracting from reform, not advancing."

Wheeler says he anticipates "additional planned attacks on public buildings" in the next few days - and has authorized police to do what is necessary to respond as long as peaceful protesters aren't threatened.

https://www.zerohedge.com/political/portland-mayor-turns-protesters-accuses-them-attempting-commit-murder

Taiwanese man in ICE custody passes away in Florida

MIAMI – A 51-year-old unlawfully present Republic of China (Taiwan) national in the custody of U.S. Immigration and Customs Enforcement (ICE) at the Krome Service Processing Center in Florida died Wednesday afternoon at the Kendall Regional Medical Center.

Kuan Hui Lee, 51, was pronounced dead at 1:36 p.m. local time by hospital medical staff at the Kendall Regional Medical Center, where he had been in critical condition with a diagnosis of a massive intercranial hemorrhage.

Medical staff at Krome Service Processing Center contacted 9-1-1 Emergency Services after finding Lee unresponsive July 31. Miami-Dade Fire Rescue responded to the 9-1-1 call and transported Lee to Kendall Regional Medical Center where he was admitted to the Intensive Care Unit for further evaluation and treatment. He remained at Kendall Regional Medical Center since that date.

Lee initially entered ICE custody Jan. 24, after his arrest by U.S. Border Patrol Jan. 23. Lee, who legally entered the U.S. in 2004, significantly violated the terms of his admission and overstayed his temporary visa status.

ICE is firmly committed to the health and welfare of all those in its custody and is undertaking a comprehensive, agency-wide review of this incident, as it does in all such cases. Fatalities in ICE custody, statistically, are exceedingly rare and occur at a fraction of the national average for the U.S. detained population.

https://www.ice.gov/news/releases/taiwanese-man-ice-custody-passes-away-florida#wcm-survey-target-id

Canadian man in ICE custody passes away in Virginia

WASHINGTON – A 72-year-old Canadian national subject to mandatory detention under federal law in the custody of U.S. Immigration and Customs Enforcement at the Immigration Centers of America (ICA) Farmville Detention Center in Farmville, Virginia, died Wednesday night at a Virginia hospital, where he had been receiving treatment for several weeks. The preliminary cause of death is undetermined at this time.

James Thomas Hill, 72, was pronounced dead at 11:42 p.m. local time by hospital medical staff at Lynchburg General Hospital in Virginia. After reporting shortness of breath to facility staff at ICA Farmville July 10, he was admitted to Centra Southside Community Hospital in Farmville, Virginia, before being transferred to Lynchburg General Hospital July 11.

A COVID-19 test administered by medical staff at Lynchburg General Hospital came back positive July 11.

Hill entered ICE custody April 15 following his release from the Rivers Federal Correctional Institute in Winton, North Carolina, after serving more than 13 years of a 26-year prison sentence. He was convicted in March 2007 for health care fraud and distributing a controlled substance. An immigration judge ordered his removal May 12.

As an aggravated felon, Hill was subject to mandatory detention by ICE under federal law. At the time of his death, Hill was in ICE custody pending removal to Canada.

ICE is firmly committed to the health and welfare of all those in its custody and is undertaking a comprehensive, agency-wide review of this incident, as it does in all such cases. Fatalities in ICE custody, statistically, are exceedingly rare and occur at a fraction of the national average for the U.S. detained population.

Consistent with the agency's protocols, the appropriate agencies have been notified about the death, including the Department of Homeland Security's (DHS) Office of Inspector General (OIG), and the ICE Office of Professional Responsibility (OPR). Additionally, ICE has notified the Canadian consulate and Hill’s next of kin.

The agency's review will be conducted by ICE senior leadership, including Enforcement and Removal Operations (ERO) and the Office of the Principal Legal Advisor (OPLA).

https://www.ice.gov/news/releases/canadian-man-ice-custody-passes-away-virginia

US Postal Service Claims Over $2 Billion In Losses In 3 Months, Democrats Call For Probe Amid Controversies

The U.S. Postal Service on Friday reported a $2.2 billion second-quarter loss and with potential losses over the next two years of roughly $20 billion as the economic ravages of the pandemic took a further toll on the already troubled agency.

The financial troubles for USPS come as Democrats want the postmaster general investigated over operational changes that have slowed mail delivery. In a letter to an agency watchdog group, Democrats' expressed concern over possible problems with mail-in ballots for the Nov. 3 general election.

Speaker of the House of Representatives Nancy Pelosi, D-Calif., and Senate Leader Chuck Schumer, D-N.Y., said Thursday the changes imposed by postmaster general Louis DeJoy “threaten the timely delivery of mail, including medications for seniors, checks for pay for workers and absentee ballots for voters, which is essential for millions of Americans."

On Friday, a letter signed by prominent Democrats such as Sen. Elizabeth Warren, D-Mass., pressed for Postal Service Inspector General Tammy Whitcomb to evaluate DeJoy and other Trump administration officials' policies of cutting overtime hours and eliminating extra trips to deliver mail on time. It also requests a review of financial holdings from DeJoy and his wife that includes up to $75.3 million in USPS' competitors or contractors.

The letter comes as DeJoy on Friday admitted to a financial crisis for USPS.

“Our financial position is dire, stemming from substantial declines in mail volume, a broken business model and a management strategy that has not adequately addressed these issues,” DeJoy, a former logistics executive, told the postal board of governors at a Friday meeting in his first public comments since accepting the position in June. “Without dramatic change, there is no end in sight.”

The 50% increase in package deliveries over the second quarter was not enough to offset the continued decline in first-class and business mail for the agency. Additionally, the pandemic has presented new costs, such as protective equipment for its workers and replacing those who got sick or opted not to work.

The USPS is seeking help from Congress to help it continue operating in the years to come. Their requests include $10 billion in funding to cover operating costs and removal of a regulation that requires the agency to pre-fund retirement and healthcare benefits.

DeJoy also said he has worked to tackle inefficiencies in the agency’s operations since taking the position two months ago.

“By running our operations on time and on schedule, and by not incurring unnecessary overtime or other costs, we will enhance our ability to be sustainable and… continue to provide high-quality, affordable service,” DeJoy said.

https://www.ibtimes.com/us-postal-service-claims-over-2-billion-losses-3-months-democrats-call-probe-amid-3024729

Nightmare. More Than 200,000 Nevada Ballots Found to Be 'Undeliverable'

A report by the Public Interest Legal Foundation, an election integrity group, found that more than 200,000 ballots mailed to voters in Clark County, Nevada, were designated by the post office as “undeliverable.”

Clark is the most populous county in Nevada, containing the Las Vegas metro area. It has nearly 75 percent of the state’s population.

The county sent 1.3 million ballots to voters. The undeliverable ballots accounted for 17 percent of all ballots mailed to registered voters. Since Nevada has gone to all mail-in ballot elections, that means that 17 percent of the county’s 1.3 million registered voters are effectively disenfranchised.

J. Christian Adams, a longtime PJ Media columnist, recently wrote about the perils of mail-in voting and why the argument that it works in other states doesn’t pass muster.

Washington Free Beacon:

“These numbers show how vote by mail fails,” said J. Christian Adams, PILF’s president and general counsel. “New proponents of mail balloting don’t often understand how it actually works. States like Oregon and Washington spent many years building their mail voting systems and are notably aggressive with voter list maintenance efforts. Pride in their own systems does not somehow transfer across state lines. Nevada, New York, and others are not and will not be ready for November.”

“The addresses that we used were provided by the voters when they registered,” Dan Kulin, a spokesman for Clark County, told the Washington Free Beacon. “If they no longer reside at the address they provided to us, then we would expect that mail to be returned to us, which is what happened.”

The Trump campaign is suing Nevada for their mail-in voting procedures. Most states that are urging mail-in voting are sending applications for absentee ballots. But Nevada was sending actual, legal ballots to every registered voter. The Trump campaign wants it to stop.

The new figures come as Nevada takes center stage in a debate over mail-in voting. President Donald Trump’s campaign sued the state over its plans to mail ballots to every registered voter for the November election. As Democrats across the country push for mail-in voting amid the coronavirus pandemic, critics have said the practice can lead to a number of problems such as lost ballots. Recent reports also showed that 84,000 mail-in Democratic primary ballots cast in New York City were disqualified.

PILF communications director Logan Churchwell said the Clark County elections department asked the county commission not to send ballots to every registrant on file, cautioning that it would be “a costly exercise of sending mail to addresses that were sure to bounce any parcel.” The county sent out the ballots despite the election department’s warning.

“Nevada’s voter rolls aren’t maintained to the standard required for an all-mail experience like Oregon or Washington,” Churchwell said. “The Nevada governor is foolish to think he can replicate his regional neighbors’ years of development and practices with mail voting in a matter of months with a weekend emergency bill.”

Left-wing groups have been challenging “purging” dead, moved, duplicate, and inactive voters from registration rolls for years. Now they want an election based on mail-in ballots for every registered voter?

No one is ready for this. This is why mail-in voting will be an epic failure.

https://pjmedia.com/news-and-politics/rick-moran/2020/08/07/nightmare-more-than-200000-nevada-ballots-found-to-be-undeliverable-n764800