June 23, 2020 / 1:02 PM / 9 days ago

Prosecutors in Munich say former Wirecard CEO to be released on bail

Markus Braun, CEO and Alexander von Knoop, CFO of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions, cast shadows at the company's annual news conference in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/Files

BERLIN (Reuters) - Prosecutors in Munich said on Tuesday that former Wirecard CEO Markus Braun would be released as soon as he has posted 5 million euros ($5.66 million) in bail.

Braun had been arrested on suspicion of falsifying accounts, after the German payments firm disclosed a $2.1 billion financial hole and questioned whether trustees had actually held money on its behalf.

Prosecutors said Braun would have to report to police weekly.

($1 = 0.8828 euros)

Reporting by Michelle Martin; editing by Thomas Seythal

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below