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Munich prosecutors raid Wirecard's offices

Munich prosecutors raid Wirecard's offices

Munich police have raided Wirecard's headquarter offices and other properties, accelerating the fraud probe into the battered payment processor's €1.9 billion accounting black hole.

According to Reuters, prosecutors are seeking evidence related to the dealings of board members Alexander von Knoop and Susanne Steidl, in addition to Wirecard’s former chief executive Markus Braun and second-in-command Jan Marsalek.

Braun was arrested last week and released on bail of €5 million. The whereabouts of former chief operating officer Jan Marsalek are unknown, though authorities in the Philippines say he passed through the country before boarding a flight to China on June 24.

Wirecard's collapse has rocked the world of fintech, with many firms who relied on the payments processor for operational support urgently reviewing their options.

Services have been provisionally resumed in the UK and Singapore following regulatory investigations, while the US operation has been put up for sale.

Wirecard’s administrator Michael Jaffe, told Reuters that he had received strong interest from potential buyers.

“A large number of investors from all over the world have contacted us, interested in acquiring either the core business or business units that are independent of it,” Jaffe said.

Firms in the frame are said to include Ingenico, Adyen, Worldline and Nets, as well as banks and private equity groups.

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