Wirecard trial: Testimony of Markus Braun concluded
The first stage of the criminal trial against ex-Wirecard CEO Markus Braun has now been completed.
Last week, the questioning of the former CEO of Wirecard AG came to an end. On the last day of his testimony, Markus Braun once again emphasized that he considers himself innocent. According to Braun, for example, there was “compelling evidence” that others were the real culprits and that they had allegely defrauded the former Dax company of almost 1.9 billion euros.
In recent weeks, Markus Braun has tried to prove his innocence on the basis of several presentations, account statements and other documents. In his view, the evidence in his favor was “overwhelming”.
Braun, as well as Stephan von Erffa (former chief accountant of Wirecard AG) and Oliver Bellenhaus (former company representative in Dubai and key witness for the prosecution), who are also on trial, are accused of, among other things, professional gang fraud, breach of trust and market manipulation.
In the coming days of the trial, the taking of evidence is to begin. At the beginning, police officers are to testify on the status of the investigation.
Investor model proceedings opened – model plaintiff appointed
The proceedings in the Wirecard case are also slowly gaining momentum at the civil law level. The Bavarian Supreme State Court responsible has now appointed the model plaintiff in the Capital Investor Model Proceedings (KapMuG). This marks the start of registration for the moel proceedings.
Injured investors who have not yet filed a claim for damages against EY can now register for the KapMuG proceedings within a period of six months (until September 18, 2023).
In such proceedings, all claims for damages against EY in connection with the Wirecard insolvency are to be bundled. The Bavarian Supreme Court is responsible. Among other things, this court is now to examine whether EY breached its duties when auditing Wirecard’s balance sheets, which could give rise to claims for damages by investors and institutional investors.
Should you wish to register your claims for the model proceedings in order to prevent the statute of limitations, you can find further information here.
(21. March 2023)