Munich court paves way for Wirecard trial (updated)

Wirecard AG

21/09/2022 14:01

(Releads with new source, DATELINE, adds details)
    MUNICH, Sept 21 (Reuters) - A Munich district court said it
had admitted charges against former Wirecard executives, paving
way for a trial into Germany's biggest post-war fraud scandal at
the now-defunct company.
    Former Chief Executive Markus Braun and two other former
managers will face trial, the court said in a statement on
Wednesday.
    The formerly DAX-listed payment company filed for insolvency
in June 2020, owing creditors almost $4 billion, after
disclosing a 1.9 billion euro ($1.88 billion) hole in its
accounts that its auditor EY said was the result of a
sophisticated global fraud.
    Prosecutors accuse Braun, and the other two executives of
balance sheet falsification, market manipulation, embezzlement
in several cases and commercial fraud.
    Braun, who has been in custody since July 2020, rejects the
allegations.
    Handelsblatt business daily, which first reported the step, 
cited sources as saying they expected the trial to start early
next year. The court gave no date.
($1 = 1.0094 euros)

 (Reporting by Alexander Huebner
Writing by Rachel More
Editing by Paul Carrel, Kirsti Knolle)
 ((rachel.more@thomsonreuters.com;))