July 14, 2020 / 4:40 PM / 24 days ago

German watchdog files new Wirecard insider trading complaint

FILE PHOTO: The logo of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions, is pictured at its headquarters in Aschheim, near Munich, Germany, July 1, 2020. REUTERS/Andreas Gebert

FRANKFURT/MUNICH (Reuters) - The German financial watchdog BaFin said on Tuesday that it had filed a complaint with Munich prosecutors over a further episode of alleged insider trading in Wirecard.

BaFin said the transaction took place on June 24, the day before Wirecard filed for insolvency.

It said it involved a 6.6 million euro ($7.52 million) sale in shares by MB Beteiligungsgesellschaft mbH. That is the investment vehicle of the former chief executive Markus Braun, once one of the collapsed payment company’s largest shareholders.

A law firm representing Braun didn’t immediately respond to requests for comment.

A further sale of 3.4 million euros in shares by the same investment company is also under investigation, a spokeswoman for BaFin said.

Reporting by Hans Seidenstuecker and Alexander Huebner; writing by Tom Sims. Editing by Jane Merriman and Nick Macfie

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