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German watchdog files new Wirecard insider trading complaint - Metro US

German watchdog files new Wirecard insider trading complaint

FILE PHOTO: The logo of Wirecard AG is pictured at its headquarters in Aschheim

FRANKFURT/MUNICH (Reuters) – The German financial watchdog BaFin said on Tuesday that it had filed a complaint with Munich prosecutors over a further episode of alleged insider trading in Wirecard.

BaFin said the transaction took place on June 24, the day before Wirecard filed for insolvency.

It said it involved a 6.6 million euro ($7.52 million) sale in shares by MB Beteiligungsgesellschaft mbH. That is the investment vehicle of the former chief executive Markus Braun, once one of the collapsed payment company’s largest shareholders.

A law firm representing Braun didn’t immediately respond to requests for comment.

A further sale of 3.4 million euros in shares by the same investment company is also under investigation, a spokeswoman for BaFin said.

(Reporting by Hans Seidenstuecker and Alexander Huebner; writing by Tom Sims. Editing by Jane Merriman and Nick Macfie)

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