Ex-CEO of Wirecard and different executives charged with fraud by way of German prosecutors

German prosecutors have charged the previous CEO of monetary corporate Wirecard with fraud and false accounting.

Markus Braun and two different former Wirecard managers face allegations over the company’s cave in remaining yr amid claims that a lot of its income and property have been faked.

Prosecutors in Munich stated on Monday that Braun signed off on monetary reviews he knew have been false. The fraud value banks an estimated €3.1 billion in loans and writedowns, in keeping with a commentary.

The company’s former head of accounting and the managing director of a Dubai-based subsidiary have been additionally charged.

One of the most central figures within the case, the corporate’s former leader running officer Jan Marsalek, continues to be being sought by way of government, prosecutors stated.

Braun’s lawyer stated the fees have been “critically wrong” and “assumed a false image of the information,” in keeping with the German DPA information company.

Wirecard grew impulsively and used to be amongst Germany’s most sensible bills firms prior to the company filed insolvency complaints in 2020, announcing €1.9 billion euros that have been on its steadiness sheet may no longer be discovered.

The cave in used to be described by way of the German govt as “the most important monetary scandal” ever to hit the rustic.

A courtroom will now come to a decision if Braun and the 2 different former executives will face trial.

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