2024-02-23 14:44:58
More than three and a half years following the Wirecard bankruptcy, the company with which former CEO Markus Braun managed his now-melted assets is now also insolvent: The Limburg an der Lahn district court has issued a general ban on the disposal of the assets of Braun’s MB investment company and the Weilburg lawyer Carsten Koch appointed as provisional insolvency administrator.
The court published the report on the official judicial portal “Insolvency Notices”. Munich judge Helmut Krenek had previously mentioned this on Thursday at the oral hearing of a lawsuit brought by the Wirecard insolvency administrator once morest Braun and other former Wirecard board members.
Braun, who has been in custody since the summer of 2020, had managed his investment company himself and is still registered as managing director – “currently c/o JVA Stadelheim”, as the statement from the Limburg district court shows.
In 2018, the year Wirecard was included in the DAX leading index on the Frankfurt Stock Exchange, it was temporarily worth over 20 billion euros. The Austrian manager held eight percent of the shares in the now insolvent investment company and profited accordingly from the market value – until the group collapsed in what was probably the biggest fraud scandal in Germany since 1945.
Since December 2022, Braun has had to answer for suspected fraud in a criminal case together with two other former Wirecard managers, as well as numerous civil lawsuits from insolvency administrators, creditors and shareholders. Braun rejects all allegations.
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