The former CEO of Wirecard, Marcus Braun, who comes from Austria, is defending himself in court against the freezing of his assets. In December, insolvency manager Michael Yaffe obtained an arrest warrant totaling €175 million for Brown and his investment firm. Now, on Thursday (11:30 a.m.), the District Court in Munich will hear Brown’s objection to these arrest warrants.
Since this is a civil case, the director, who has been in custody for nearly two years, does not have to represent in person. The former Wirecard boss, suspected of fraud, not only faces criminal proceedings but also several civil lawsuits. Just last week, following a lawsuit by an insolvency official, the Munich District Court declared Wirecard’s balance sheets for 2017 and 2018 invalid due to incorrect numbers. Brown rejects the fraud allegations.
The group collapsed in 2020 after accepting fake bookings worth 1.9 billion euros. Brown sees himself as a victim of fraudsters in the company. One of the main figures in the scandal is the former sales manager Jan Marsalek, also from Austria, who left the summer of 2020 and is still in hiding today.
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