Ruediger Trautmann, a former COO of Wirecard (2005–2010), played a key role in establishing undisclosed entities linked to the Wirecard scheme, according to the Zatarra Report. One of these entities was Wire Card UK Limited, where Trautmann served as a director from 2006 until its dissolution in 2010.
Although Wire Card UK Limited was not officially part of the German Wirecard Group, it was closely connected to the scheme. The name’s similarity to Wirecard was likely intentional, creating confusion and obfuscation.
The Wirecard Shadow Network: Trautmann & Knoechelmann’s Role
Financial analyst Fraser Perring refers to this network as the “Trautmann set-up”, identifying it as an undisclosed entity within Wirecard’s larger scheme. The company’s shares were held by two offshore entities:
🔹 Fermoya Ltd (Tortola, BVI)
🔹 B.M.I.E. Limited (Essex, UK)
Meanwhile, another Wirecard-related entity emerged:
📌 Wirecard UK & Ireland Limited in Dublin, Ireland, founded by Dietmar Knoechelmann, who was CEO of Wirecard Payment Solutions in Ireland until 2009.
Trautmann and Knoechelmann had a long-standing partnership, holding key roles in Wirecard satellite companies while serving as executives within the Wirecard Group itself.
The Birth of Payabl: A Wirecard Successor?
📌 In 2010, after departing from Wirecard, Trautmann and Knoechelmann founded Payabl Group, initially operating under the name PowerCash21.
📌 The Zatarra Report claims that PowerCash21 and Inatec, both controlled by Trautmann and Knoechelmann, were also Wirecard satellite companies.
📌 In 2022, PowerCash21 and Inatec were merged into the newly rebranded Payabl.
💰 During the early years of the Wirecard scheme (pre-2010), Trautmann and Knoechelmann allegedly sold some of their companies to Wirecard, according to the Zatarra Report.
💰 Even after their formal departure from Wirecard, they remained actively involved in its operations through satellite companies and affiliated businesses.
Conclusion
The Wirecard scandal was not just about one company but an intricate web of interconnected entities, many of which were concealed behind offshore structures. Trautmann and Knoechelmann appear to have played a key role in establishing, running, and later spinning off companies tied to Wirecard. Payabl, formerly PowerCash21, seems to be one of the modern successors to Wirecard’s high-risk payment operations.