Prosecutors in Munich say former Wirecard CEO to be released on bail

Prosecutors in Munich said on Tuesday that former Wirecard CEO Markus Braun would be released as soon as he has posted 5 million euros ($5.66 million) in bail. ($1 = 0.8828 euros)

Prosecutors in Munich said on Tuesday that former Wirecard CEO Markus Braun would be released as soon as he has posted 5 million euros ($5.66 million) in bail. Braun had been arrested on suspicion of falsifying accounts, after the German payments firm disclosed a $2.1 billion financial hole and questioned whether trustees had actually held money on its behalf.

Prosecutors said Braun would have to report to police weekly. ($1 = 0.8828 euros)