Germany: Wirecard headquarters seen busy after ex-CEO arrest

The Wirecard headquarters in Aschheim was seen busy on Tuesday, after former CEO Markus Braun was arrested amid an accounting scandal that centres on a missing sum of almost 2bn euros ($2.261 bil). Security could be seen checking people at the fintech company's building entrance in the western outskirts of Munich. Braun resigned as CEO of Wirecard last Friday after auditor EY refused to sign off the firm's 2019 accounts over a missing €1.9 billion ($2.2 billion), and he turned himself in on Monday following the issuing of an an arrest warrant. Prosecutors accuse Braun of inflating Wirecard's finances to make it more attractive to investors and customers. On Monday, the company admitted there's «a likelihood» that the funds «do not exist.» Braun, an Austrian who resides in Vienna, has reportedly been released on €5 million ($5.67) bail, after spending Monday night in police custody, and has agreed to cooperate with the investigation. Founded in 1999, Wirecard was one of Germany's top 30 companies with nearly 6,000 employees in 26 countries around the world.
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