Wirecard’s formers CEO Markus Braun arrested

Marcus Braun turned himself in on June 22, after an arrest warrant was issued

Wirecard

Wirecard’s formers CEO Markus Braun arrested. Source: unsplash.com

Markus Braun, the former CEO of the German payment services provider Wirecard, has been arrested days after the company found a $2 billion hole in the books.

German prosecutors arrested him on suspicions of manipulative business practices and presenting false information. After Wirecard acknowledged that roughly a quarter of its assets had gone missing, Braun suddenly resigned over it.

Meanwhile, the company highlighted that James Freis, chief compliance officer, will take charge of Wirecard.

We’ve reported that the Securities and Exchange Commission charged convicted criminal Boaz Manor, his business associate, and 2 businesses, CG Blockchain Inc. and BCT Inc. SEZC. They were accused of stealing over $30 million from hundreds of investors in a fraudulent initial coin offering (ICO).

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