Former Wirecard CEO Markus Braun rearrested in Munich

July 22, 2020
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Former Wirecard CEO Markus Braun rearrested in Munich 1

Former Wirecard CEO Markus Braun rearrested in Munich

Markus Braun, chief govt officer of Wirecard AG, arrives for the corporate’s annual information convention within the Aschheim district of Munich, Germany, on Tuesday, April 25, 2019.

Michaela Handrek-Rehle | Bloomberg through Getty Photos

The previous CEO of collapsed German funds firm Wirecard, Markus Braun, has been rearrested in Munich, prosecutors within the Bavarian capital mentioned Wednesday.

Alongside Braun, the Munich public prosecutor’s workplace mentioned in a press release emailed to CNBC that two different unnamed former executives had been additionally detained.

Munich prosecutors now suspect Wirecard knew it had been lossmaking since 2015 and that its administration conspired collectively in an organized industrial fraud of round 3.2 billion euros ($3.7 billion).

The suspects borrowed funds totaling about 3.2 billion euros from banks in Germany and Japan, prosecutors mentioned, including the money is more than likely misplaced because of Wirecard’s chapter.

Wirecard has mentioned it is not going to be making any additional statements. The agency collapsed into insolvency final month, per week after revealing 1.9 billion euros of money had gone lacking from its accounts.

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