Money Men by Dan McCrum Summary

Money Men exposes the rise and fall of Wirecard, a German fintech giant that perpetrated a $30 billion fraud through fake bank accounts, money laundering, and fabricated financial records. Investigative journalist Dan McCrum unravels this complex scheme, detailing Wirecard’s shady dealings, aggressive cover-ups, and the threats faced by those who challenged its legitimacy. The book blends corporate true crime with McCrum’s firsthand account of pursuing the story.

This book is ideal for fans of financial true crime (Bad Blood, Empire of Pain), professionals in finance or journalism, and anyone interested in corporate corruption. It offers insights into investigative reporting, regulatory failures, and the mechanics of large-scale financial fraud.

Yes. Awarded for its gripping narrative and compared to leading financial exposés, Money Men is praised for its meticulous research and pace. It won accolades from the London Press Club and Society of Editors, cementing McCrum’s reputation as a top investigative journalist.

McCrum combines anonymous insider interviews, forensic financial analysis, and leaked documents to piece together Wirecard’s fraud. His reporting faces legal threats, surveillance, and smear campaigns orchestrated by the company, yet he persists for years to reveal the truth.

The book outlines fake revenue schemes, offshore money laundering, and forged balance sheets. Wirecard claimed €1.9 billion in nonexistent accounts, manipulated acquisitions to hide losses, and partnered with high-risk industries like online gambling and adult entertainment.

CEO Markus Braun (charged with fraud) and COO Jan Marsalek (a fugitive) orchestrated the fraud. Marsalek, depicted as eccentric and paranoid, kept a MAGA hat in his office and hired individuals indicted for financial crimes.

German regulators dismissed allegations for years, prioritizing Wirecard’s status as a national tech champion over accountability. Authorities even prosecuted short-sellers and journalists instead of investigating the company.

Like these exposés, Money Men reveals corporate hubris and systemic fraud. However, it uniquely highlights the role of complicit regulators and the global financial system’s vulnerabilities.

McCrum endured lawsuits, defamation campaigns, and physical threats. A hedge fund manager linked to his investigation was assaulted, while Wirecard hired private detectives to surveil critics.

The case underscores the risks of unchecked corporate power, the importance of investigative journalism, and the need for transparent financial oversight. It also reveals how fraudsters exploit investor trust and regulatory gaps.

As digital finance grows, Wirecard’s tactics—fake audits, shell companies, and PR spin—remain cautionary tales. The book offers frameworks to identify red flags in tech-driven financial firms.

McCrum alternates between Wirecard’s history (1999–2020) and his investigation’s timeline, using share prices and market caps to track the company’s collapse. This dual perspective heightens tension and clarity.