6/22/2020, 10:35 PM (Source: TeleTrader)
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Wirecard executives face arrest warrants - report

Wirecard AG's former top executives, CEO Markus Braun and COO Jan Marsalek, both Austrian nationals, could be facing arrest warrants in Germany's court over their alleged involvement in the scandal surrounding the company, Sueddeutsche Zeitung reported on Monday.

The Munich I public prosecutor office is expected to file the arrest warrants for allegedly manipulating the digital payment service provider's stock market price, according to the report. Potential sentences for financial crimes the two could be accused of range from up to three to up to five years in prison, the media outlet noted.

Meanwhile, US media reported that Wirecard credit facility with at least 15 banks stands at about €1.75 billion, with ABN AMRO Bank N.V., Commerzbank AG, ING Group, Landesbank Baden-Wuerttemberg each lending €200 million to the German company. There are also two Austrian banks among Wirecard's lenders, as Raiffeisen Niederoesterreich loaned €60 million and Raiffeisen Oberoesterreich loaned €45 million, according to Bloomberg News.

Baha Breaking News (BBN) / MS