Charges brought against another Wirecard boss
Markus Braun and two other former Wirecard managers have been on trial for a year. Now the public prosecutor's office is also bringing charges against the Group's former CFO. Burkhard Ley is accused of market manipulation and fraud, among other things.
The Munich public prosecutor's office has brought charges against another former Wirecard board member. Investigators are accusing the long-standing CFO Burkhard Ley of market manipulation, commercial and gang fraud and breach of trust, among other things.
According to the investigators, Ley manipulated sales as CFO - and later as an advisor to the Management Board - together with former Wirecard CEO Markus Braun and other top managers by helping to fake the allegedly billion-euro business with third-party customers in Asia. The investigators believe that the inaccurate figures were intended to drive up the Wirecard share price.
At the same time, the manipulated annual financial statements were used to raise money from banks. In total, the banks suffered losses of several hundred million euros. If the 12th Commercial Criminal Chamber of the Munich Regional Court accepts the charges, Ley would be the fourth ex-Wirecard manager to stand trial. Wirecard collapsed in June 2020 when it was discovered that 1.9 billion euros were missing from escrow accounts in Asia.
Jan Marsalek, who had gone into hiding, was responsible for the Asian business. Former CEO Braun and two other ex-managers are in the dock on charges of balance sheet falsification and gang fraud. They are alleged to have fabricated transactions worth billions with so-called third-party partners. Braun, on the other hand, has stated that the money did exist, but that it was concealed behind his back.
Read also:
- Why there is still no EU funding for green Saar steel
- 3 billion Saar Fund is unconstitutional
- Politicians at a loss after shock news
- Court of Auditors criticizes the state government's debt plan
The charges against Burkhard Ley follow the trial of Markus Braun and other former Wirecard managers, all of whom are associated with Munich. Ley's processes are under scrutiny for alleged market manipulation, fraud, and breach of trust, adding to the growing list of criminality within Wirecard.
Source: www.ntv.de
