2023-07-07 07:00:00
The reason for this is a lawsuit by the former CEO, Markus Braun, once morest his manager liability insurance. The 53-year-old wants to get more money for the ongoing legal disputes from his insurance company. He thinks Swiss Re has to cover further legal costs and wants to force the group to do so with an injunction. The Austrian demands the provision of the agreed coverage of 10 million euros.
Braun has been in custody for three years. In the trial before the Munich Regional Court, he and two other former Wirecard managers are accused of cheating Wirecard banks and lenders out of more than EUR 3 billion. The former DAX group collapsed in 2020 because 1.9 billion euros that were said to have been booked in trust accounts in Southeast Asia might not be found.
Braun is not expected to attend the civil trial in Düsseldorf. His appearance was not ordered and not necessary, the court said.
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