Markus Födisch has been demonstrating patience and meticulousness as the presiding judge in the Wirecard criminal trial at the Munich Regional Court. Known for his blend of deliberation and assertiveness, the 50-year-old legal expert is handling one of the biggest financial crime cases in German legal history.

Födisch has been leading the Wirecard-proceedings, which began in December 2022, in a modern, underground extension of the Munich-Stadelheim Correctional Facility.

The trial concerns extensive accounting fraud at payment services provider Wirecard, which collapsed in mid-2020 when it was revealed that nearly 2 billion euros supposedly held in trust accounts in Southeast Asia did not exist. The court must determine who is responsible for the fraud.

For the nine-member panel – comprising five professional judges and four lay judges (with two substitutes each) – getting to the heart of the truth is a laborious task, due to the complexity of the case. After a 20-month evidence-gathering period, it is clear that the trial will extend into 2025. The schedule is full until the end of the year. Födisch will face a busy docket when the court reconvenes on August 19 after the summer break. The experienced judge will continue questioning former CFO Stephan von Erffa, a key moment in the highly scrutinised trial, which has attracted intense media attention. Von Erffa, the third defendant, has begun to speak after a long silence, denying any wrongdoing and portraying himself as a victim, while the main defendant, former CEO Markus Braun, also rejects all charges. In contrast, the key witness, Oliver Bellenhaus, the former regional manager in Dubai, pled guilty to all charges at the trial's start.

The prosecution accuses the trio of organised fraud, breach of trust, accounting falsification, and market manipulation. They are alleged to have faked third-party activities with extensive forgeries for years, to make the company's situation appear better than it was. The damage to creditors is estimated by the prosecution at 3.2 billion euros.

During the three days of Erffa's questioning, Födisch maintained his professional demeanor. He listens attentively to the defendant's lengthy explanations, and probes when Erffa obscures connections or expresses himself unclearly. Födisch's reactions have suggested skepticism towards Erffa, who provides too many contradictory statements, prompting the judge to ask pointed questions.

The scion of a former noble family with roots in Thuringia struggled to convincingly explain why Wirecard routinely released financial data several days before the deadlines for quarterly reports, despite the fact that the numbers from the alleged third-party trading partners in Asia had not yet entered the company’s accounts.

Four months ago, Födisch made it clear to the defendant and his lawyers that a timely confession could result in a prison sentence of six to eight years. This suggests that the evidence, in the judge’s view, is strong. Erffa chose not to accept this offer from the court. Instead, he dug himself into a deeper hole with his statements.

Födisch has witnessed some pivotal moments in the trial, with over 150 witnesses in addition to the accused trio. Although the judge generally handles the proceedings with a steady hand to maintain control, he can become more forceful if he senses that someone is not taking the examination seriously.

For example, at the end of April, he reprimanded the former CFO of Wirecard Bank, Rainer Wexeler, following his bizarre statements about a questionable practice in handling loans to addresses in Asia. „What do you think we're doing here? Please pull yourself together! This is the third time I'm telling you this. You keep downplaying things. Otherwise, you'll be in real trouble!“

Given the trial's length, this clash is unlikely to be the last. His verbal exchanges with Braun’s attorney, Alfred Dierlamm, who is known for his dramatic flair, during the early stages of the trial are legendary. Dierlamm resigned his mandate in early June, after Braun’s insurance refused to cover his fees, leading to a noticeably calmer atmosphere in the courtroom.

Födisch has worked for the Bavarian judiciary for 23 years, specialising in economic criminal law. Before becoming the presiding judge of the 4th Criminal Chamber four years ago, he held a senior position at the Munich Public Prosecutor’s Office, dealing with tax-related criminal cases, including the Cum-Ex scandal. Thus, Födisch is well aware of the extensive investigative efforts required to uncover the truth in complex cases like Wirecard.