Due diligence red flags in documented proceedings

Publicly documented investment, banking and insolvency proceedings of recent years – as learning material for your own review. This area is deliberately separate from the ongoing register documentation and establishes no connection to the persons or companies named there.

Source-checked

Fact ≠ assessment

Correction path

Documentary motif of register research — Symbolic image · editorial illustration, not a depiction of named persons

Strict separation

The cases shown here are concluded or pending proceedings of third parties. No established connection exists to the persons or companies named in the register documentation. Their appearance in this knowledge area implies no allegation; what is shown are general structural features that in review practice warrant a closer look.

Checklist

Recurring structural features

These features recur in the proceedings shown below. They are grounds for closer review – on their own they evidence no misconduct.

01Companies at shared addresses without recognisable operations
02Identical officers across several jurisdictions
03Distribution under established brand or platform names
04Payment or return promises without verifiable substance
05Frequent renamings, relocations and officer changes
06Receivable or payment flows between affiliated companies

Documented proceedings

Past cases with sources

3 / 3 cases

Wirecard AG

2008–2020 (Insolvenz 25.06.2020)

DE / SG / AEAccounting fraud, capital marketsapprox. EUR 1.9bn missing trustee balances

Listed payment provider with a web of third-party acquirer entities in Asia and the Middle East. Audited trustee accounts did not exist; the company filed for insolvency.

Structural features

Foreign entities without demonstrable operations, changing directors, revenues via unauditable partners.

Procedural status

Criminal trial at Munich Regional Court I since 2022, KapMuG model proceedings

Sources

Wikipedia – Wirecard · laufend aktualisiert
BaFin – Pressemitteilungen Wirecard · 2019–2020

Greensill Bank AG, Bremen

2014–2021 (Moratorium 03.03.2021)

DE / UK / AUBanking supervision, deposit protectionapprox. EUR 3bn deposits, incl. municipal funds

German subsidiary of a British-Australian supply chain financier. BaFin imposed a moratorium and filed a criminal complaint over balance sheet manipulation; deposits were partly compensated by the deposit protection scheme.

Structural features

Group structure across several jurisdictions, receivables purchased from affiliates, distribution via deposit platforms.

Procedural status

Insolvency proceedings, Bremen Local Court, since 2021

Sources

Wikipedia – Greensill Bank · laufend aktualisiert
BaFin – Maßnahmen Greensill Bank AG · 03.03.2021

P&R Container-Gruppe

1975–2018 (Insolvenzanträge 03/2018)

DE / CHGrey capital market, direct investmentapprox. EUR 3.5bn investor funds, approx. 54,000 investors

Sale and lease-back of shipping containers. A large share of the containers sold did not exist; payouts were funded from new investors' money.

Structural features

Tangible-asset promise without verifiable inventory, Swiss sister company, circular payment flows.

Procedural status

Insolvency proceedings, Munich Local Court, since 2018, distributions ongoing

Sources

Wikipedia – P&R Container · laufend aktualisiert

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