Ex-boss of Wirecard booked

The former boss of payments firm Wirecard, Markus Braun, has been booked by the European country of Germany.

The arrest has happened shortly after a German court issued an arrest warrant against the ex-boss of the company.

Mr. Braun’s resignation happened just a week ago. It was shortly after EY had refused to sign off the account of the firm over a missing amount of €1.9bn (£1.7bn).

Actually, the money accounts for around a quarter of the total balance sheet of the payments firm based in Germany.

Mr. Braun is accused of inflating the firm’s finances to make it appear healthier to investors and customers.

It is found that the amount has been invested in two Asian banks.

Meanwhile, the management of the company has defended the action of its former boss. They have claimed that the investment in the Asian banks has been made as a risk management strategy.

Photo Courtesy: Google/ images are subject to copyright