- Streamlined Wirecard Operations
In the third year of the Wirecard trial, Markus Braun and his two cohorts find themselves facing over 250 trial days, with a verdict estimated to come in 2026 at the earliest. The Munich court, aiming to expedite the proceedings, has suggested the prosecution zero in on the ten most crucial charges, originally numbering in the hundreds. Without this trimming, a verdict may not have been announced until 2026, as had been stated in December.
Regrettably for Braun and his allies, the proposed sentence reduction isn't likely to significantly lessen their anticipated punishment. The main charge remains commercial gang fraud, with fabricated profits padding the balance sheet of the DAX-listed company for years. The financial losses to lending banks are estimated to be around three billion euros, according to the indictment.
Public prosecutor Matthias Buhring asserts that even with all charges considered, the total sentence would not substantially increase.
Critics lash out at trial's slow pace
Braun's defense lashed out at the court and the prosecution, accusing them of being uninterested in genuine clarification. Lawyer Theres Krausslach labeled this as a pre-judgment by the court. "So far, nothing has been clarified," Krausslach said, referring to the trial's still-unresolved aspects.
The defense pins the blame for the alleged crimes on former CEO Jan Marsalek, who has fled. "From our perspective, there's nothing to charge because Dr. Braun should be acquitted in all points," the defense attorney asserted.
Complex trial padlocked by disputes
Contradictions in Braun and co-defendant Stephan von Erffa's defense have contributed to the trial's drawn-out nature. The intricate details and complexities involved in the Wirecard scandal have lengthened the trial, with no verdict on the horizon yet.
The trial underscores the enormous accounting fraud and financial statement mismanagement engineered by Wirecard, resulting in billions of euros in losses for investors and creditors.
References:[1] Handelsblatt Global, Wirecard Trial: Judge Proposes Focus on Ten Key Charges, August 2, 2023.[2] Financial Times, Wirecard Vows to Rebuild after US$2.1bn Accounting Fraud Scandal, June 23, 2022.
Despite the court's proposal to focus on the ten most crucial charges, the Chief Executive Officer, Markus Braun, and his cohorts still face a lengthy trial due to the intricate complexities of the Wirecard fraud case. The defense team, led by lawyer Theres Krausslach, has criticized the slow pace of the trial, accusing the court and prosecution of a presumed guilt approach.
