Wirecard is said to have manipulated its balance sheets with air bookings and thus defrauded banks and investors by three billion euros. The then CEO is in custody – and remains there for the time being.
Former Wirecard CEO Markus Braun has to remain in custody even after a year behind bars. The 2nd criminal senate of the Munich Higher Regional Court ordered the continuation of the pre-trial detention on Friday, as the court announced.
On the other hand, another Wirecard manager from the Group’s finance department is released. The then DAX company collapsed in the summer of 2020 after suspected fraudulent billions were discovered.
The decision of the OLG was preceded by weeks of tug-of-war between the public prosecutor and Braun’s defense lawyers. The investigators accuse Braun and other Wirecard executives of commercial gang fraud. They are said to have defrauded banks and investors by three billion euros with the help of manipulated balance sheets. Detention tests take place every three months.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
