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Five Years After Collapse Braun Submits New Evidence as Wirecard Trial Stalls

Regulatory oversights have left investors unlikely to recover billions in losses

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Overview

  • Since its December 2022 opening the criminal trial of ex-CEO Markus Braun and two former managers has dragged on with no verdict
  • In May 2025 defense attorney Theres Kraußlach filed over 120 pages of fresh evidence and reiterated Braun’s claim of ignorance
  • Authorities stand accused of overlooking repeated warnings about Wirecard’s dubious accounting practices
  • Wirecard’s 2020 bankruptcy eliminated thousands of jobs and wiped out billions of euros in shareholder value
  • Fugitive ex-manager Jan Marsalek remains at large and is believed to be operating under Russian intelligence protection