MUNICH/FRANKFURT—Wirecard’s former boss has been arrested on suspicion of falsifying the accounts after the German payments firm disclosed a $2.1 billion financial hole and questioned whether trustees had actually held money on its behalf.
Markus Braun turned himself in on the night of June 22, after Munich prosecutors issued a warrant for his arrest. A judge ruled on June 23 that the 50-year-old Austrian could be released as soon as he posts 5 million euros ($5.7 million) in bail.
