July 16, 2020 / 8:17 PM / a month ago

Jailed executive in Wirecard scandal offers confession, lawyer says

MUNICH, July 16 (Reuters) - The former head of a key subsidiary of Wirecard, who was arrested earlier this month, has admitted wrongdoing to prosecutors for his role in a multi-billion-euros fraud, his lawyer said on Thursday.

It is the first known confession of wrongdoing in the collapse of one of Germany’s biggest companies.

The unidentified jailed executive was the chief executive officer of Dubai-based Cardsystems Middle East. (Reporting Joern Poeltz; Writing by Tom Sims; Editing by Leslie Adler)

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