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Money Men: A Hot Startup, a Billion Dollar Fraud, a Fight for the Truth

door Dan McCrum

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'The financial investigation of the decade... Money Men instantly enters the canon of great financial crime books' Bradley Hope, author of The Billion Dollar Whale 'A rip-roaring ride into the underworld of the global economy' Tom Burgis, author of Kleptopia This is the stranger-than-fiction story of Wirecard, once a $30 billion tech darling, now a smouldering wreck, by the journalist who brought it crashing down - perfect for those who loved Bad Blood and Empire of Pain. When journalist Dan McCrum followed a tip to investigate the hot new tech company challenging Silicon Valley, everything about Wirecard looked a little too good to be true: offices were sprouting up around the world, it was reporting runaway growth and the CEO even wore a black turtleneck in tribute to Steve Jobs. In the space of a few short years, the company had come from nowhere to overtake industry giants like Commerzbank and Deutsche Bank on the stock market. As McCrum dug deeper, he encountered a story stranger and more dangerous than he ever imagined: a world of short sellers and whistleblowers, pornographers and private militias, hackers and spies. Before long he realised that he wasn't the only one in pursuit. Shadowy figures were following him through the streets of London, high-flying lawyers were sending ominous letters to his boss, and he was named as the prime suspect in a criminal inquiry. The race was on to prove his suspicions and clear his name. Money Men is the astonishing inside story of Wirecard's multi-billion-dollar fraud, Europe's biggest new tech darling revealed as a house of cards. Uncovering fake bank accounts, fake offices and possibly even a fake death, McCrum offers a searing exposé that will finally lay bare the truth.… (meer)
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Money Men is a behind-the-scenes story of the investigation of Wirecard by the Financial Times. It's very entertaining story, as Wirecard was doing some laughably unbelievable things with its finances and with the journalistic investigation.

The book is bizarrely difficult to get through, however. The entire thing is written in idiom (e.g. "Germany's business newspaper of record was not some tinpot Manila rag" p. 222), sometimes Britishisms, sometimes newspaper jargon, sometimes financial jargon. I imagine the author was trying to temper the idea of corporate financial crime with a more fun tone, but it's hard to parse.

Do yourself a favor and photocopy / print the cast of characters from the first few pages. I could not keep track of all the people and had to keep a bookmark in that section. ( )
  bexaplex | Apr 3, 2024 |
This is a great read, especially for those already familiar with the FT's Wirecard reporting. ( )
  sandjohansson | Dec 21, 2023 |
I know very little about finance. Money Men looked like it would be an exciting read where I could pick up some real-world knowledge. Unfortunately, I was disappointed and felt none the wiser after reading it (admittedly, I skimmed much of the second half although I suspect I didn’t miss much).

I went in expecting an account of how the author (plus colleagues, allies etc) gathered the evidence to expose Wirecard’s actions, as well as how the opposition fought back. It makes sense that parts of the story would remain unclear, this being real life rather than fiction. What I got was a list of encounters between people I couldn’t keep track of, and no context-setting that I could appreciate. There seemed to be more emphasis on what people wore and ate than the significance of their interactions. In short, there wasn’t a “story thread” that I could follow and I rather zoned out.

Perhaps my incomprehension is simply because of my lack of financial background. But in that case, I wonder who the book is supposed to appeal to?
  MHThaung | Nov 19, 2022 |
This page-turner of a book details the efforts by FT to uncover the enormous financial scandal behind the German firm Wirecard. The scandal is revealed to e even more scandalous than reported in the media. The book also details the devious efforts of Wirecard to kill the stories against. ( )
  M_Clark | Aug 28, 2022 |
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'The financial investigation of the decade... Money Men instantly enters the canon of great financial crime books' Bradley Hope, author of The Billion Dollar Whale 'A rip-roaring ride into the underworld of the global economy' Tom Burgis, author of Kleptopia This is the stranger-than-fiction story of Wirecard, once a $30 billion tech darling, now a smouldering wreck, by the journalist who brought it crashing down - perfect for those who loved Bad Blood and Empire of Pain. When journalist Dan McCrum followed a tip to investigate the hot new tech company challenging Silicon Valley, everything about Wirecard looked a little too good to be true: offices were sprouting up around the world, it was reporting runaway growth and the CEO even wore a black turtleneck in tribute to Steve Jobs. In the space of a few short years, the company had come from nowhere to overtake industry giants like Commerzbank and Deutsche Bank on the stock market. As McCrum dug deeper, he encountered a story stranger and more dangerous than he ever imagined: a world of short sellers and whistleblowers, pornographers and private militias, hackers and spies. Before long he realised that he wasn't the only one in pursuit. Shadowy figures were following him through the streets of London, high-flying lawyers were sending ominous letters to his boss, and he was named as the prime suspect in a criminal inquiry. The race was on to prove his suspicions and clear his name. Money Men is the astonishing inside story of Wirecard's multi-billion-dollar fraud, Europe's biggest new tech darling revealed as a house of cards. Uncovering fake bank accounts, fake offices and possibly even a fake death, McCrum offers a searing exposé that will finally lay bare the truth.

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