Payment service provider: a Former Wirecard-chief brown arrested

Markus Braun, the former Chairman of the Board in fraud scandal involved Wirecard AG, is arrested. The investigating public Prosecutor's office Munich I announ

Payment service provider: a Former Wirecard-chief brown arrested

Markus Braun, the former Chairman of the Board in fraud scandal involved Wirecard AG, is arrested. The investigating public Prosecutor's office Munich I announced on Tuesday.

Henning Peitsmeier

economic correspondent in Munich.

F. A. Z.

The authority had requested the day before a warrant against brown. The 51-year-old Austrian has been reported to be still on Monday evening the criminal pursuers. He will now be the investigative judge who decides on the detention continued.

Wirecard threatens liquidity bottleneck

The Prosecutor's office accuses the defendants, to have, together with other perpetrators, the balance sheet total and the volume of sales, the Munich-based Dax group by way of fake revenue from transactions with third-party partners, bloated, "so the company is financially strong and for investors and customers in a more attractive display," it said.

the Particular focus in the first few days of the ongoing investigations of alleged Bank balances on escrow accounts in the case of two Philippine banks on more than 1.9 billion euros. Wirecard had not communicated on Monday that the billion amount "exists with probability".

WIRECARD -- -- (--) Xetra tradegate long & black London SE Int. Level 1StuttgartFrankfurtSchweiz OTCWienSchweiz 1T 1W 3M 1J 3J 5J For detail view

this is Why the group reviewed the subsequent correction of its balance sheets: "the Potential impact on the financial statements of previous financial years can not be ruled out."

in Parallel, the negotiations on the extension of credit lines with a total of 1,85 billion Euro to run with the creditor banks. Wirecard is a liquidity shortage threatens, should be terminated, the loans.

On the stock exchange of the shares with a put price of Wirecard on Tuesday for the first Time in days. He tended to more than 17 percent firmer in morning trade.

Updated Date: 23 June 2020, 06:19

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