Raids conducted over Wirecard scandal in Germany and Austria

Dozens of investigators conducted raids in Germany and Austria as part of investigations into payment services firm Wirecard, which imploded after a massive hole emerged in the company’s accounts, prosecutors said on Wednesday.

Five buildings were raided in total, including Wirecard’s headquarters on the outskirts of Munich, prosecutors in the southern German city said. Two properties in Austria were also searched.

The raids were linked to investigations into former chief executive Markus Braun, an Austrian national, who was arrested last week on charges of falsifying Wirecard’s accounts and market manipulation.

“Twelve prosecutors at the scene are receiving support from 33 [German] police officers and further IT experts from the Munich police department and their Austrian colleagues,” Munich prosecutors said in a statement.

Authorities are also looking to speak to former Wirecard board member Jan Marsalek, also from Austria, who appears to be on the run.

The digital payment services company was left reeling after it emerged last month that 1.9 billion euros (2.1 billion dollars) was missing from its accounts. The DAX-listed company has launched insolvency proceedings.

This is the second time within a month that the Wirecard headquarters have been searched.

Investigators have not released further details on the latest operation. According to the Sueddeutsche Zeitung newspaper, a private property was among the locations raided.

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