Wirecard

Pav Gill is setting up Confide, catering to companies that want to boost their corporate governance.

Jan Marsalek was a key figure at Wirecard before its implosion in an accounting scandal in June 2020.

The decision is the harshest regulatory consequence yet for the firm since Wirecard's demise almost three years ago.

Markus Braun insisted he acted properly when he told markets two months before the company's spectacular demise that a KPMG probe found no wrongdoing — even though the auditor didn't have access to the documents it needed.

In his first public comments about his involvement in an episode that wiped out billions of euros in shareholder value, Braun spoke of a "day of shock and pain."

Piles of relevant documents were disclosed to the defense only four weeks before the trial started.

Markus Braun's payment company collapsed under the weight of fraud allegations, wiping out billions in shareholder value.

Executives resent the cost and interference of auditors; investors see them as a safety net that is only noticeable when it fails.

A Munich court opened a class-action style procedure to hear cases brought by investors who claim EY violated its duties when auditing the now bankrupt payment company.

The Munich prosecutors’ office reportedly filed a series of charges against former CEO Markus Braun.