German prosecutors have rearrested Markus Braun, the former chief executive of imploded payments firm Wirecard, and detained two other ex-board members, a spokeswoman said Wednesday
MOSCOW (Pakistan Point News / Sputnik - 22nd July, 2020) German prosecutors have rearrested Markus Braun, the former chief executive of imploded payments firm Wirecard, and detained two other ex-board members, a spokeswoman said Wednesday.
"All three accused were detained in Munich... Two were detained on an arrest warrant issued earlier by Munich District Court, and the former CEO, Dr. Braun, was arrested here during his weekly check-in with the police," Anne Leiding said.
The two other suspects are Wirecard's former chief financial officer and the former chief of accounting, she said.
Charges differ from suspect to suspect, the spokeswoman added, "but generally they are charged with commercial fraud committed by a group of people, embezzlement, false accounting, market manipulation."
The company filed for insolvency last month after an independent audit by EY revealed it lacked 1.9 million euros ($2.2 million) in its overseas bank accounts. The resulting scandal cast shadow on the German financial regulator BaFin, accused of ignoring telltale signs of false accounting practices that have been going on for five years.
