Markus Braun, CEO of Wirecard AG, arrives at the company’s annual press conference in the Aschheim district of Munich, Germany, Tuesday, April 25, 2019.
Michaela Handrek-Rehle | Bloomberg via Getty Images
Former CEO of German payments company Wirecard Markus Braun was arrested again in Munich, prosecutors in the Bavarian capital said on Wednesday.
Along with Braun, the Munich prosecutor’s office said in an e-mailed statement to CNBC that two other unidentified former executives were also detained.
Munich prosecutors now suspect Wirecard knew it had been losing losses since 2015 and that his administration conspired together in an organized trade fraud of around € 3.2 billion ($ 3.7 billion).
The suspects borrowed funds totaling some € 3.2bn from banks in Germany and Japan, prosecutors said, adding that the cash is likely to be lost due to the Wirecard bankruptcy.
Wirecard has said it will not make any further statements. The company collapsed into insolvency last month, a week after revealing that € 1.9bn in cash had disappeared from its accounts.
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