When short seller Matthew Earl anonymously co-authored a report detailing explosive allegations of wrongdoing at German fintech champion Wirecard, his life was turned upside down.
Within months of the research's publication in 2016, the London-based investor says the company tracked him down, placed him under surveillance, and began trying to hack into his emails.
Followed and photographed, he became so fearful for his family's safety that people picking up his children from school needed to use a special password.
"It was incredibly stressful -- you didn't know what their intentions were," Earl, now managing partner of hedge fund ShadowFall, told AFP.
"The problem is that as an individual, you don't really have the resources to deter that."
In contrast, Wirecard had "the resources of a small nation" to target their critics, he added.
Rather than triggering investigations into Wirecard, Earl's report led to German authorities launching a probe into him for alleged market manipulation.
Ultimately however, Earl and a handful of others who sought to blow the whistle on Wirecard's wrongdoings were vindicated when the firm collapsed in 2020 after admitting to a huge hole in its accounts.
They will be paying close attention when ex-CEO Markus Braun goes on trial in Munich Thursday over the biggest fraud scandal in post-war Germany.
Braun, who will stand trial alongside two other former Wirecard executives accused of fraud and account rigging, denies wrongdoing.
"I will be...
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