#jaiyeorie 
The former chief executive of Wirecard, a German electronic payment platform, has been arrested in Munich today after the company admitted that $2.1 billion missing from its accounts probably “do not exist.”
Markus Braun resigned as chief executive on Friday, traveled from Vienna to Germany late Monday and became the authorities after the Munich state's lawyer filed a request for arrest on suspicion of market manipulation.
Mr. Braun built Wirecard from a small Bavarian start-up on a financial technology company darling that grew so dominant that it left the German Commerzbank out of the DAX stock index in 2018. But its shares have fallen more than 80 percent in recent days after the company's board of directors revealed that its auditors, EY, formerly Ernst & Young, could not locate accounts containing nearly 2 billion euros and postponed its annual report.
Mr. Braun resigned Friday as CHIEF Executive officer and was replaced by James Freis, a former compliance officer on the German stock exchange who was hired only the day before to serve on the company's board of directors.
Mr. Braun’s downfall as a combative executive hailed in the German corporate world was precipitated by a series of reports in The Financial Times over the last year questioning accounting irregularities in the company’s Asian operations. Wirecard disputed the reports, calling them “fake news” and claiming it was under attack by speculators.
Mr. Braun has not yet been formally charged with a crime, but he may be kept in jail for up to six months pending charges, according to the Munich prosecutor’s office. 📎 The key is : Learn how to BE HAPPY BY YOURSELF FIRST. Because a human being that is happy on his/her own will never settle to be miserable with someone else. When you find happiness on your own then you will be able to spread it and share it with someone else. ... CRITIC ALSO 🖋️ spill TEA ☕ Easy on Shade 💣
The former chief executive of Wirecard, a German electronic payment platform, has been arrested in Munich today after the company admitted that $2.1 billion missing from its accounts probably “do not exist.”Markus Braun resigned as chief executive on Friday, traveled from Vienna to Germany late Monday and became the authorities after the Munich state's lawyer filed a request for arrest on suspicion of market manipulation.
Mr. Braun built Wirecard from a small Bavarian start-up on a financial technology company darling that grew so dominant that it left the German Commerzbank out of the DAX stock index in 2018. But its shares have fallen more than 80 percent in recent days after the company's board of directors revealed that its auditors, EY, formerly Ernst & Young, could not locate accounts containing nearly 2 billion euros and postponed its annual report.
Mr. Braun resigned Friday as CHIEF Executive officer and was replaced by James Freis, a former compliance officer on the German stock exchange who was hired only the day before to serve on the company's board of directors.
Mr. Braun’s downfall as a combative executive hailed in the German corporate world was precipitated by a series of reports in The Financial Times over the last year questioning accounting irregularities in the company’s Asian operations. Wirecard disputed the reports, calling them “fake news” and claiming it was under attack by speculators.
Mr. Braun has not yet been formally charged with a crime, but he may be kept in jail for up to six months pending charges, according to the Munich prosecutor’s office. 📎 The key is : Learn how to BE HAPPY BY YOURSELF FIRST. Because a human being that is happy on his/her own will never settle to be miserable with someone else. When you find happiness on your own then you will be able to spread it and share it with someone else. ... CRITIC ALSO 🖋️ spill TEA ☕ Easy on Shade 💣
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