Wirecard is expected to be sold in individual parts

Meanwhile, there are increasing signs that the Wirecard supervisory board ex-CEO Markus Braun is giving considerable responsibility for the affair of alleged air bookings in the amount of 1.9 billion euros. Braun was subsequently released without notice, as is clear from a statement by the Supervisory Board on Tuesday evening. The employment contract of the long-standing CEO had been terminated “with immediate effect”. Although Braun had resigned almost two weeks ago, employment contracts from top managers usually also include provisions for severance payments and retirement benefits.

However, both the Supervisory Board and the auditing firm EY, which audited Wirecard’s annual balance sheets, are confronted with lawsuits and threats from angry investors. Felix Hufeld, the president of the financial supervisory authority Bafin, must face uncomfortable questions on Wednesday with the Wirecard scandal. Hufeld should explain to the Bundestag Finance Committee why the alleged bogus transactions at Wirecard went undetected. For example, the British Financial Times had repeatedly reported curiosities and irregularities at Wirecard since 2015.

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