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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!