State witness and former CEO Markus Braun trade accusations over who was responsible for spectacular collapse
Munich — The key prosecution witness in Germany’s biggest post-war fraud trial admitted guilt on Monday in a scam that led to Wirecard’s collapse but said the company was a “swindle” from the start, with former CEO Markus Braun at its core.
Bellenhaus is on trial along with Braun, who denies wrongdoing and accuses others of running a shadow operation without his knowledge, and one other high-ranking manager of the defunct company. They face charges including fraud and market manipulation and could be jailed for up to 15 years if convicted.
“Small lies became big lies ... It was a swindle from the beginning,” Bellenhaus told the court, saying he deeply regretted his involvement and the damage it caused.
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