Berlin, Nov. 19, (dpa/GNA) – The former head of the scandal-hit financial service provider Wirecard, Markus Braun, is to be questioned by German parliament on Thursday.
Wirecard, once hailed as a rising star and listed on Germany’s DAX index of leading shares, imploded after admitting that 1.9 billion euros (2.2 billion dollars) in assets were likely non-existent.
German prosecutors are investigating former executives at the firm, including former chief executive Braun, on suspicion of fraud which allegedly led to banks and investors being cheated out of more than 3 billion euros.
Lawmakers plan to question Braun over the former manager’s contacts to politicians and authorities, in a bid to establish whether Wirecard received preferential treatment from regulators.
German authorities and financial regulators have come under scrutiny regarding how much and how soon they knew about the suspected fraud.
Braun, who is currently in custody in Bavaria, is unlikely to directly address the fraud allegations levelled against him during the questioning.
GNA