Wirecard shareholders can sue Braun in Austria

Markus Braun

Investigators accuse Braun and other Wirecard managers of commercial gang fraud.


(Photo: Reuters)

Wien Investors in the insolvent German payment service provider Wirecard can sue former CEO Markus Braun in Austria. The reason for this is Braun’s residence in Vienna, as confirmed by the Innsbruck Higher Regional Court on Friday.

Viennese lawyers had brought a model action for damages. Braun had argued against it that he no longer lives in his home country because of his ongoing custody in Bavaria. Now the Tyrolean court found that the civil action is admissible in Austria.

According to its own statements, the Viennese law firm Aigner / Lehner / Zusatz represents hundreds of Wirecard investors who are fighting for their lost money in court in Munich and now partly in Austria.

Investigators accuse Braun and other Wirecard managers of commercial gang fraud. You are said to have defrauded banks and investors with the help of manipulated balance sheets by three billion euros.

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