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Markus Braun released on €5m bail amid mystery of missing billions from German payments firm’s books
The former chief executive of a company once regarded as one of Germany’s hottest stocks – a payment processing company with ambitions to be a global leader in a world where cash was history - was yesterday bailed from police custody after posting a deposit of €5m (£4.5m), public prosecutors in Munich said on Tuesday afternoon.
Markus Braun, 51, was arrested on Monday on suspicion he falsified accounts at Wirecard. The once highly-rated German business, operating in the go-go financial tech sector, has now admitted to €1.9bn (£1.7bn) hole in its balance sheet. Braun, who styled himself after Apple’s Steve Jobs, wearing black turtle necks, is also accused of manipulating the markets. Continue reading...