- Continuing Incarceration of Previous Wirecard CEO, Brown
Ex-Wirecard CEO Markus Braun continues in jail. The criminal division of Munich's Regional Court made this decision following a review of Braun's request for release. Braun has been behind bars since July 2020, battling charges of business and organized fraud, as well as embezzlement. The court spokesperson revealed that there's still a solid suspicion pointing towards Braun's involvement in the crimes outlined in the warrant. Added to this, there's a perceived risk of flight and obstruction of justice.
Braun is accused of tricking Wirecard's financial records with his accomplices, leading to a substantial 3.1 billion euros in damages to banks offering credit. As per Braun, the previous DAX firm handled transactions in certain countries using the third-party companies Payeasy, Senjo, and Al Alam.
Court Skeptical of Alleged Third-Party Venture
Subsequent examination of the proof led the court to conclude that the alleged business partnership (TPA partnership) with the three associates did not transpire. There were also no finances managed by a trustee for Wirecard AG. Braun refutes this, but his claims have yet to be verified. Given the present state of the evidence, the chamber also found no compelling reason to grant unsecured loans to the affected companies.
The continued detention is justified. The notably stringent criteria for expediting the criminal trials have been met in terms of timeframe.
The demands for Braun's release were dismissed by The Commission, aligning with the court's decision to keep him in custody. Despite Braun's argument that Wirecard AG used third-party companies for transactions, The Commission remains skeptical and does not support the idea of unsecured loans to the affected companies.
