EXW Wallet co-founder Benjamin Herzog has pled guilty.

Herzog’s guilty plea was entered mid-trial, following damning testimony from his ex-girlfriend,

As reported by Kleine Zeitung on December 13th;

The main defendant (26) made a surprise announcement on Wednesday made a full confession. He also exonerated his eight co-defendants.

“I was out of breath, I was done driving. “I plead guilty in full and ask for a lenient and speedy sentence,” said the Carinthian, according to the Austria Press Agency (APA).

While he can’t actually “exonerate” his fellow accused, I believe this was an attempt to shoulder responsibility alone. Well, sort of – Herzog threw EXW Wallet’s other two co-founders under the bus.

In his remarks, (Herzog) also accused the two EXW co-founders who are currently still absconding or in custody for extradition.

Pirmin Troger was arrested in Brazil and awaits extradition to Austria. Manuel Batista remains a wanted fugitive.

Despite his guilty plea, Kleine Zeitung reports Herzog “was still being questioned by the jury, the public prosecutor and the defense”.

Officially EXW Wallet victims number “around 40,000” with “at least 17.6 million euros in losses. Herzog’s ex-girlfriend pegged EXW Wallet investor losses at closer to 80 to 120 million euros.

Being unfamiliar with the Austrian criminal case process, unfortunately I don’t know when Herzog will be sentenced.

 

Update 23rd October 2024 – Benjamin Herzog and Pirmin Troger have been sentenced to five years in prison.