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Former Wirecard CEO detained on accusation of inflating balance sheet - prosecutors

Published 06/23/2020, 04:18 PM
Updated 06/23/2020, 04:20 PM
WDIG
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FRANKFURT, June 23 (Reuters) - Former Wirecard WDIG.DE
Chief Executive Markus Braun has been detained on accusations of
inflating the company's balance sheet and revenues to make it
appear stronger and more attractive for investors and customers,
prosecutors said in a statement on Tuesday.
Wirecard had said on Monday that 1.9 billion euros ($2.15
billion) it had booked in its accounts likely never existed, a
black hole that threatens to engulf the payments
company. Braun turned himself in on Monday evening and will be
presented to a judge on Tuesday who will decide on whether he
will remain in custody, they added.


($1 = 0.8857 euros)

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