Former Wirecard CEO Braun Arrested In Germany

Law360, London (June 23, 2020, 10:34 AM BST) -- The former chief executive of German payments company Wirecard AG has been taken into custody as prosecutors investigate an accounting scandal that centers on a missing €1.9 billion ($2.1 billion), prosecutors confirmed on Tuesday.

Markus Braun was arrested on suspicion of presenting false information and market manipulation, prosecutors in Munich said. (AP) Munich prosecutors said in a statement that Markus Braun was arrested on Monday on suspicion of presenting false information and of market manipulation to make the company appear more attractive to investors and clients.

"The public prosecutor's office in Munich suspects the accused of having possibly inflated Wirecard AG's...

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