Offenses committed by individuals in a professional or business setting. - Former Wirecard CEO Markus Braun loses his legal representation.
In the Wirecard trial, the legal representatives for the primary defendant, Markus Braun, have left their positions. They communicated to the Munich Regional Court before a court hearing occurred on Wednesday that their compensation would no longer be covered. The liability insurance for management responsibility belonging to former Wirecard board member Braun will no longer reimburse his legal expenses. The court instantly started assigning two public defenders to Braun for the continuation of the trial.
The co-defendant E., who is blamed for balance fraud and organized crime alongside Braun and the ex-Wirecard manager Oliver Bellenhaus, offered a confession again during Wednesday's hearing. Presiding Judge Markus Födisch stated after conversing with defense attorneys and the prosecution that if E. made a prompt and thorough confession, he could anticipate a jail sentence between six to eight years.
The bankrupt payment service provider Wirecard occurred in June 2020 when the 1.9 billion euros supposedly in trust accounts suddenly vanished. The indictment denounces the three defendants, ex-sales director Jan Marsalek and additional perpetrators for purportedly devising billions in sales to maintain the struggling DAX company. The ongoing trial, which began in December 2022, has so far seen E. remain silent. Braun has disclaimed all accusations, whereas confessing Bellenhaus serves as the crown witness and charges the remaining two co-defendants.
The court proposed a six to eight-year prison sentence for E. on Wednesday if he confessed rapidly and thoroughly according to the charges. A minor contribution towards resolution alone is not enough, stated the presiding judge. E. could, however, provide information on matters at Wirecard's headquarters in Aschheim near Munich, a place Bellenhaus had no awareness of from his post in Dubai. The judge raised examples such as internal company transactions, interactions with auditor EY, preliminary discussions, and the attitude of board chairman Braun.
Braun firmly denies all claims. He has expressed no interest in settlement negotiations, as the court disclosed on Wednesday. Contrasting his two co-defendants, the former board chairman and former billionaire Braun is still in pre-trial detention - for almost four years.
Read also:
- The trial for White-collar crimes at the Munich Regional Court in Germany involves Alfred Dierlamm, a former executive from Bavaria's financial sector.
- The senior executive from a collapsed German fintech company, Wirecard, Oliver Bellenhaus, is part of the same trial, accused of involvement in a complex crime case.
- The Wirecard case, currently undergoing processes at the Munich Regional Court, includes alleged financial manipulation and other crimes, impacting various services offered by the company.
- The charges against E., also a co-defendant in the Wirecard case, include fraud and organized crime, with services like the company's internal transactions and interactions with auditor EY under investigation.
- The court in Munich regionalized the Wirecard case, examining the roles of prominent figures such as the former CEO Markus Braun and ex-sales director Jan Marsalem, who are alleged to have committed financial crimes involving processes and services.
- The German prosecution is investigating high-level financial crimes related to Wirecard, with former CEO Markus Braun, along with Alfred Dierlamm and other suspects in the Munich Regional Court, primarily engaged in services and processes associated with white-collar crime.
