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Wirecard had said on Monday that 1.9 billion euros ($2.15
billion) it had booked in its accounts likely never existed, a
black hole that threatens to engulf the payments company.
Braun turned himself in on Monday evening and will attend a
hearing on Tuesday where a judge will decide whether he is to
remain in custody, the Munich prosecutors said. Braun's lawyer
was not immediately available for comment.
Braun is accused of misrepresenting the company's accounts and
of market manipulation by falsifying income from transactions
with so-called third-party acquirers, the prosecutors added.
Wirecard said last week that auditor EY had refused to sign off
on its 2019 accounts as it was unable to confirm the existence
of 1.9 billion euros in cash balances in trust accounts, about a
quarter of its balance sheet.
The one-time investor darling is now holding emergency talks
with its banks, which are owed roughly 1.75 billion euros, to
avert a looming cash crunch triggered by the missing money.
The episode marks a dramatic turn in the fortunes of a
home-grown tech firm that attracted some of the world's biggest
investors before a whistleblower alleged that it owed its
success in part to a web of sham transactions.
Two people familiar with the matter said that state prosecutors
in Munich are also considering issuing an arrest warrants for
Jan Marsalek, a board member fired on Monday. His lawyer was not
immediately available for comment.
(Reporting by Arno Schuetze; Editing by Michelle Martin and
Maria Sheahan)
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