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FinTelegram SLAPP-attacked By High-Risk Payment Processor Payabl.

Charges are currently pending in Germany against former Wirecard CEO Markus Braun and two other managers of the collapsed FinTech. The case involves a disappearance of €1.9 billion and allegations of fictitious transactions. Former Wirecard executives Ruediger Trautmann and Dietmar Knoechelmann have successfully built up Payabl as a high-risk payment processor with a similar business model to Wirecard in recent years. Now they are going against FinTelegram
Request for Payabl

Payabl co-founder Ruediger Trautmann has filed a complaint in Frankfurt against FinTelegram for defamation. In it, he claims that the statement that he was an important manager of Wirecard or that Payabl (formerly PowerCash21) would be a kind of successor company of Wirecard would be defamation. FinTelegram is currently in litigation with Payabl in Cyprus. Trautmann apparently wants to increase the pressure on FinTelegram with the additional complaint. We spoke with FinTelegram about the case.

FinTelegram confirmed that there is currently a court case in Cyprus after Payabl filed an injunction against FinTelegram for allegedly defamatory articles. FinTelegram’s Cypriot lawyers have filed a corresponding response to the lawsuit with evidence that the articles are accurate. A resolution of this case is expected in October 2023.

Without waiting for the clarification in Cyprus, Payabl co-founder and CEO of Payabl Solutions Ruediger Trautmann has filed a defamation complaint in Frankfurt, Germany. According to FinTelegram, this parallel action is a typical SLAPP action with which FinTelegram is to be silenced.

FinTelegram clarified the following to PayRate42:

  • it is a fact that Ruediger Trautmann and Dietmar Knoechelmann were high-ranking executives at Wirecard and helped shape the business model of the collapsed German FinTech, especially in the formative years up to 2010. Even after that, they were part of the Wirecard network with their companies.
  • It is a fact that Dietmar Knoechelmann was found guilty in Israel in the ICC-Cal proceedings for credit card fraud.
    It is a fact that Knoechelmann and Trautmann founded Payabl in Cyprus in 2011 (at that time still PowerCash21) and were thus active in the Wirecard environment.
  • It is a fact that Payabl and Wirecard have an almost identical business model and have specialized as a high-risk payment processor on merchants from the segments porn, gambling and online trading.

FinTelegram assumes that the accuracy of the published reports on Wirecard and Payabl can be proven by the relevant documents. As a result, it intends to take action against the false accusations made by Payabl and its persons.

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