June 23, 2020 / 12:57 PM / 2 months ago

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

BERLIN (Reuters) - Prosecutors in Munich said on Tuesday that former Wirecard (WDIG.DE) 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.

Reporting by Michelle Martin; editing by Thomas Seythal

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