A German financier received $ 13 million for mediating SoftBank’s controversial € 1.1 billion investment in Wirecard

Christian Angermeier, a 42-year-old Mr. serial technology investor and a staunch supporter of the benefits of psilocybin, the active ingredient in magic mushrooms, was took payment from by both sides in a complex deal, where the Japanese conglomerate’s reputation, as the world’s largest technology investor, helped to dismiss allegations of fraudulent accounting at Wirecard.

The following month, Wirecard paid Mr. Angermeier a “success fee” of € 11.25 million, the equivalent of 1.25% of the € 900 million raised.

According to people familiar with the deal, SoftBank’s investment advisers who run the fund The $ 100 billion Vision Fund also paid Mr. Angermeier around € 2 million for his role as an intermediary. The capital earmarked for Wirecard came from a subsidiary fund managed by SBIA on behalf of senior executives at SoftBank and Mubadala.

These investors have made tens of millions of euros in profits from the subsequent sale of the debt but expected to receive hundreds of millions more euros by retaining their stake in Wirecard’s equity. However, much of that potential profit was wiped out after Wirecard’s share price plunge in June, according to FT.

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