In 2020, the Financial Times exposed a €2 billion fraud at Wirecard, a high-flying German fintech. Many thought that was the end of the story. But for reporter Sam Jones, it was just the beginning. This season on Hot Money: Agent of Chaos, Jones investigates Wirecard’s chief operating officer, who vanished just as Wirecard collapsed. And turned out to also be a Russian spy. From an Ibizan sting operation to an attempted takeover of the Austrian intelligence service, his reporting spirals into a world of warlords, espionage, and disinformation. All in an attempt to answer one question: Who is the real Jan Marsalek? And what does his secret life reveal about the powerful forces he serves?

Latest episodes

Examined: The Backfire Effect | New Podcast

September 14, 2026 · 33 min

Nearly 40 years ago, in the parking lot of a community college in Port Huron, Michigan, a 20-year-old student named Scott Macklem was shot dead in broad daylight. His murder shocked the community. It made no sense. The police quickly found…
From The Financial Times: The Broker

February 17, 2026 · 37 min

In this special bonus episode from The Financial Times, "The Broker" tells the story of how a failed baseball hopeful and disgraced stockbroker reinvented himself as one of America’s most consequential modern arms dealers. From a…
Episode 8: Matryoshka

July 29, 2025 · 39 min

In our season finale, Sam discovers a different narrative about Marsalek’s life in Russia. And a tip from long ago resurfaces. See omnystudio.com/listener for privacy information.
Episode 7: From Russia With Love

July 22, 2025 · 37 min

A Marsalek-backed ring of operatives goes on trial in the UK for espionage. A treasure trove of text messages reveals their inner workings. Get ad-free access to the entire season of Hot Money: Agent of Chaos by subscribing to Pushkin+ on…
Episode 6: Maestro

July 15, 2025 · 39 min

Back in Vienna, Sam investigates another Marsalek plot. One that nearly toppled Austria’s intelligence agency. Get ad-free access to the entire season of Hot Money: Agent of Chaos by subscribing to Pushkin+ on Apple Podcasts or…
Episode 5: A Different Set of Rules

July 1, 2025 · 37 min

How does one become a spy? Sam speaks with a former Russian intelligence officer about how Marsalek might have been recruited. And to what ends. Get ad-free access to the entire season of Hot Money: Agent of Chaos by subscribing to…
Episode 4: Backbearings

June 24, 2025 · 44 min

On the ground in Austria and Germany, Sam digs deep into Marsalek’s past. His odd habits. His strange house. The hypnotic effect he had on former colleagues. And how he is remembered by childhood friends. CORRECTION: In this episode, we…
Episode 3: Thrill Seeking

June 17, 2025 · 44 min

Sam tracks down an old contact in Tunisia. A former UN official living off grid. He reveals how he ended up involved in one of Jan Marsalek’s wildest schemes. CORRECTION: In this episode, we reported that Marsalek told Killian…