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Wirecard's operation begins in Munich

Wirecard’s operation begins in Munich

Wirecard’s criminal trial for what is believed to be Germany’s largest fraud case since 1945 began in Munich on Thursday.

The Public Prosecutor’s Office accuses former Wirecard CEO Marcus Braun of Austria and two co-defendants with forming a criminal syndicate, falsifying the group’s balance sheets and defrauding lenders out of €3.1 billion. The Fourth Criminal Chamber of the Munich District Court has set about 100 hearing days until 2024.

The 89-page indictment was scheduled to be read for five hours on the first day. The accused’s contradictory statements are expected even before the trial begins: Former CEO Brown dismisses the allegations.

Oliver Bellenhouse, on the other hand, the former head of the Dubai subsidiary Wirecard, is serving as a key witness for the prosecutor. According to the defense, Bellenhouse wants to testify collaboratively and face his liability. Both are in custody. The third accused is the former chief accountant of the Wirecard Group. He is expected to refuse to testify in court.

Wirecard’s investigation isn’t over yet, even if the process has just begun. Another main character, former sales manager Jan Marsalek (Marsalek), is still on the run. It is believed that the Austrian hid in Moscow.

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