Braun, who said at the time that the allegations were


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cheap nba Jerseys from china cheap nba jerseys MUNICH/FRANKFURT Wirecard former boss has been arrested on suspicion of falsifying its accounts, after the German payments firm disclosed a US$2.1 billion financial hole and questioned whether trustees had actually held money on its behalf.Markus Braun turned himself in on Monday night after Munich prosecutors issued a warrant for his arrest. A judge ruled on Tuesday that the 50 year old Austrian could be released as soon as he posts 5 million euros (US$5.7 million) in bail.German fintech company Wirecard’s missing $2.1 billion forces out CEO, panics lendersThe former consultant traded in a suit for a black roll neck and portrayed himself as a tech visionary, telling New York investors last autumn that Wirecard would increase revenues by six times by 2025 as digital payments boom.Wirecard meteoric rise was, however, accompanied by repeated allegations from whistleblowers, journalists and speculators that its revenue and profits had been pumped up through fake transactions with obscure partners.Braun, who will have to report to police once a week, said last week in a video statement that Wirecard may have been the victim of fraud, without giving details.He now stands accused of misrepresenting Wirecard accounts and of market manipulation by falsifying income from transactions with so called third party acquirers, the Munich prosecutor office said earlier.Wirecard’s headquarters near Munich, Germany.Two people familiar with the matter said state prosecutors were also considering issuing an arrest warrant for Jan Marsalek, a board member fired on Monday. Lawyers for Braun and Marsalek were not available for comment.Wirecard implosion was described on Monday as a disaster by Germany financial regulator, who has come under fire for pursuing its critics and not the company.Finance Minister Olaf Scholz told Reuters on Tuesday that lawmakers should decide quickly how to tighten regulation following the Wirecard scandal, which had exposed lapses by both auditors and regulators.URGENT BANK TALKSAn external audit by KPMG in April could not verify cash balances, questioned Wirecard acquisition accounting and was unable to trace millions in reported cash advances to merchants.Braun, who said at the time that the allegations were not confirmed every point, quit on Friday after in house auditor EY refused to sign off on Wirecard 2019 accounts.Wirecard shares have since shed more than 80% and its only listed bond is trading at 26 US cents on the euro, indicating that investors expect to lose most of their money.With Wirecard having failed to file audited financials, the banking consortium led by Germany Commerzbank could call in the loans at any time.Sources close to the talks said it was doubtful that Wirecard can continue as a going concern, while risks of litigation ruled out asset sales for now.The main question is whether to allow the firm to keep operating for a couple of weeks, to allow more time to recover money, one source familiar with the talks said.. cheap nba jerseys

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Thank you to our coaches, Rhett, Ray, Jason, Kam and“The reaction is worse than the virus itself

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