German payments provider Wirecard’s ex-CEO Markus Braun has been detained over accusations that he inflated the firm’s balance sheet and revenues to make it appear stronger and more attractive for investors and customers.

Public prosecutors in Munich confirmed Braun’s arrest on Tuesday, saying he had turned himself in on Monday evening.

The prosecutors’ office said the former CEO has been detained over accusations of inflating the company’s balance sheet and revenues to make it appear stronger and more attractive for investors and customers.

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Source: RT