Markus Braun talks about his innocence

Ex-Wirecard boss Markus Braun

Investigators are convinced that the supposedly most important part of Wirecard’s business, the third-party business, did not exist. Braun and his lawyers, on the other hand, are still convinced that the deal existed.

(Photo: Reuters)

Munich Markus Braun has prepared something. With a PowerPoint presentation, the former Wirecard CEO is trying to convince the court of his innocence this Thursday. Braun is accused, among other things, of commercial gang fraud, infidelity and market manipulation – in the biggest financial scandal in German post-war history.

For hours he lectured before the judges in the fourth criminal division of the Munich 1 Regional Court about sales of hundreds of millions of euros that so-called third-party partners in Asia and the Middle East are said to have achieved for Wirecard – those third-party partners with whom, according to the public prosecutor’s office, there are in reality no business gave.

Braun, on the other hand, talks about the “enormous growth figures” that Wirecard has also achieved outside of the alleged third-party business. The presiding judge Markus Födisch listens patiently. Only now and then does he interrupt Braun. For example, he wants to know: In which regions did Wirecard earn the most money?

But Braun is unsure. It is not possible for him to “calculate that back”, explains the man who managed Wirecard for 18 years. Födisch looks puzzled: “Surely you know where business was particularly good?” Braun’s answer: Business was particularly booming in Europe, South America and Asia.

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But the questioning of the ex-CEO doesn’t really run any smoother afterwards either. The judge wants to know from Braun whether he can name an employee who knows the name of an intermediate payment service provider that Wirecard once did business with in China.

Wirecard process: Braun is silent on detailed questions about Wirecard’s business

Brigitte H. was responsible for it, Braun replies. The public prosecutor’s office is still investigating against H., so they probably won’t say anything in court, says judge Födisch. Don’t know anyone else Braun? Really nobody? Braun can’t think of another name.

Read more about the Wirecard case here:

On Thursday, what was already revealed in the process on Wednesday continues. When it comes to detailed knowledge of Wirecard’s business, Braun always says little. Or he refers to other managers and specialist departments.

The trial against the former Wirecard boss and two other accused managers has been underway since the beginning of December. The public prosecutor’s office suspects them of commercial gang fraud, serious breach of trust, incorrect presentation of Wirecard’s annual financial statements and market manipulation.

Investigators are convinced that the supposedly most important part of the deal, the third-party business, did not exist. Braun and his lawyers, on the other hand, are still convinced that the deal existed.

They stylize Braun as a victim of a criminal gang around the fugitive ex-CEO Jan Marsalek and one of the two accused managers, the key witness Oliver Bellenhaus. These are said to have diverted funds from the third-party business and managed them into their own pockets via letterbox companies.

More: The two faces of Markus Braun

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