24.5 C
Abuja
Tuesday, August 3, 2021

Another executive arrested in Wirecard scandal

German prosecutors have arrested another manager in connection with the Wirecard scandal involving 1.9 billion euros ($2.1 billion) in missing assets, authorities said on Monday.

The suspect, who manages the DAX-listed company’s Dubai-based Cardsystems Middle East subsidiary, returned to Germany to hand himself in to investigators, after which he was detained due to an outstanding arrest warrant against him, Munich prosecutors said.

He is to be arraigned before a judge later in the day.

The arrest warrant is based, among other things, “on a strong suspicion of collaborative fraud, and attempted collaborative fraud, in particular, serious cases and a suspicion of complicity in other offences’’, according to prosecutors.

Wirecard’s former chief executive, Markus Braun, was arrested last week on charges of falsifying Wirecard’s accounts and market manipulation.

The digital payment services company was left reeling after the massive hole in its accounts emerged last month.

Once a rising star of the German tech sector, the company has since launched insolvency proceedings. (dpa/NAN)


Content copyrighted. This material and any other digital content on this platform may not be written, re-written, published, broadcast, or distributed in full or in part, without written permission from TopSearch Magazine.

Email: editor@topsearchmagazine.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments