MAJOR GERMAN FINANCIAL SERVICE EX-CEO ARRESTED IN ACCOUNTING SCNADAL
June 2nd, 2020
Munich, Germany, police have launched a criminal investigation into an EUR1.9 billion (USD2.1 billion) accounting fraud at payments processing company Wirecard, June 22, arresting former CEO Markus Braun, who was released on EUR5 million (USD5.6) bail the following day. Other board members are also under suspicion. Braun had resigned days before after the scandal unfolded. Wirecard, which had handled payments for credit card giants Mastercard and Visa, announced June 18 for the fourth time that it could not publish its 2019 accounts after its auditors at EY had ...
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