Markus Braun, the former chief executive of Wirecard, has been arrested in Germany after $2.1 billion went missing at the European tech company.
London Markus Braun, the former chief executive of Wirecard, has been arrested in Germany after $2.1 billion went missing at the digital payments company.
Munich prosecutors confirmed Tuesday that Braun was arrested on suspicion of possibly having inflated Wirecard's balance sheet and sales through fake transactions with third parties in order to make the company more attractive to investors and customers.Wirecard says missing $2 billion never existed. Its stock is down 85% in 3 daysWirecard acknowledged on Monday that €1.9 billion in missing cash, which made up roughly a quarter of its assets, probably never existed in the first place.
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