German MPs grill ex-Wirecard boss over massive fraud

Markus Braun, the former chief executive of disgraced payments giant Wirecard, faced a public grilling by German lawmakers Thursday over the massive accounting fraud that brought down his firm.



a man wearing a suit and tie: Markus Braun, the former chief executive of collapsed payments provider Wirecard, will face German lawmakers on Thursday


© Christof STACHE
Markus Braun, the former chief executive of collapsed payments provider Wirecard, will face German lawmakers on Thursday

Wirecard collapsed in June after it was forced to admit 1.9 billion euros ($2.2 billion) missing from its accounts did not exist, and MPs have opened a full parliamentary inquiry into possible regulatory failings that allowed the cheating to go unnoticed for years.

Austria-born Braun began his testimony at the Bundestag lower house of parliament, which was also open to the media, at 1:30 pm (1230 GMT).

He had travelled to Berlin from the Bavarian city of Augsburg, where he is in pre-trial detention on suspicion of organised commercial fraud and market manipulation.

Absent from the proceedings was fellow prime suspect

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