Former Wirecard CEO Braun Arrested Over Missing Cash Scandal

Marcus Brown, former CEO of Wirecard, was arrested following a scandal involving a missing €1.9 billion. The Munich prosecutors confirmed the arrest, and Danny Berger provided further details, including Brown's potential involvement in sales manipulation. Wirecard's financial troubles have been escalating, with the company unable to release its earnings report due to the missing funds. The situation worsened when it was revealed that the money might never have existed. Wirecard's stock has plummeted, and the company is struggling to secure a loan extension from banks, which demand more clarity. The investigation may expand, with hopes for third-party involvement.

What was the reason for Marcus Brown's arrest?

• Tax evasion

• Insider trading

• Missing funds at Wirecard

• Money laundering

What did Marcus Brown do after the arrest warrant was issued?

• Held a press conference

• Denied all charges

• Turned himself in

• Fled the country

What was the alleged purpose of the sales manipulation at Wirecard?

• To expand into new markets

• To increase product sales

• To attract more investors

• To reduce tax liabilities

What financial issue did Wirecard face that affected their stock price?

• Rising operational costs

• Increased competition

• Regulatory fines

• Missing €2 billion

What do banks require from Wirecard to consider extending their loans?

• Higher interest rates

• More collateral

• More clarity on financials

• A new CEO