'Day of pain': Wirecard boss denies charges in massive fraud trial

'I had no knowledge of counterfeiting or embezzlement,' former Wirecard CEO Markus Braun tells the court in Munich.

MUNICH, Germany – Wirecard’s former boss on Monday, February 13, denied all wrongdoing over the collapse of the payments company as he took to the stand for the first time inDressed in his trademark black turtleneck and rimless spectacles, Markus Braun, 53, expressed his “deepest regret” overbut said he had no knowledge of any forgery or embezzlement and believed he was running a healthy business.

“I had no knowledge of counterfeiting or embezzlement,” Braun told the court in Munich, describing the discovery of a 1.9-billion-euro hole in Wirecard’s balance sheet as a “day of pain” for shareholders and employees. In his most detailed statements about Wirecard’s collapse since his arrest, Braun pushed back against that characterization, describing his leadership as collegiate.

When 1.9 billion euros went missing from the balance sheet, “Marsalek was very clever and understood how to explain that it was a mistake,” Braun said, speaking in the same calm and concentrated voice with which he used to address investor meetings and press conferences.

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