Markus Braun, the former CEO of Wirecard, is now dependent on state-provided legal representation after his previous lawyer resigned due to a lack of funds. Braun, facing serious charges of fraud, breach of trust, accounting manipulation, and market manipulation linked to the Wirecard scandal, has been in custody since July 2020.
To combat these charges, which could result in a prison sentence of up to 15 years, Braun initially engaged Alfred Dierlamm, a well-known German lawyer specializing in white-collar crime. However, Dierlamm has withdrawn from the case after funds from Braun’s directors and officers insurance were depleted. Once a billionaire thanks to his significant shareholding in Wirecard, Braun found himself destitute following the company’s collapse.
Despite the allegations, Braun claims to be innocent and has been attempting to shift blame to the former CFO, Jan Marsalek, who is reportedly a Russian FSB agent and currently evading authorities. As he prepares for his legal defense, Braun will now rely on a government-appointed attorney, supported by two additional state-funded lawyers, as his case is expected to extend into the following year.