Overview
- R. Shanmugaratnam, 59, was jailed for 10 years and James Henry O’Sullivan, 51, for 6½ years after their September 2025 convictions.
- Between 2016 and 2018, Shanmugaratnam issued 13 confirmation letters falsely stating Citadelle held nearly €1.1 billion in escrow for Wirecard entities.
- Prosecutors said Citadelle held no Wirecard money during the periods cited, with individual fake balances ranging from €20 million to about €327.5 million.
- Court documents state draft wording came from Jan Marsalek and other operatives, and EY Germany acknowledged receiving several letters.
- Both men plan to appeal and were granted bail, with additional falsification-related charges pending further proceedings.