The digital payments company said in a statement Thursday it had opened legal proceedings in Munich “due to impending insolvency and over-indebtedness.” Shares in the company, which have lost 90% of their value in less than a week, plunged sharply in Frankfurt after the announcement was made. Markus Braun, the Austrian tech CEO who built […]
Munich prosecutors confirmed that Braun, Wirecard’s former CEO, was arrested on suspicion of having inflated the digital payment company’s balance sheet and sales through fake transactions in order to make it more attractive to investors and customers....
The former CEO of the German payments firm Wirecard was arrested on Tuesday on suspicion of falsifying accounts, after the company disclosed a $2.1 billion financial hole and questioned whether trustees had actually held money on its behalf.Markus Braun turned himself...
The former chief executive of Wirecard, a German electronic payment platform, was arrested in Munich on Tuesday after the company admitted that 1.9 billion euros ($2.1 billion) missing from its accounts probably “do not exist.”Markus Braun, who resigned as chief...
Axel Eiser in 2017. He faces charges of violating the U.S. Clean Air Act.Credit…Bernd von Jutrczenka/Picture Alliance, via Getty ImagesA former high-ranking executive at Volkswagen who is accused of being part of a conspiracy to evade U.S. clean air laws has...
