Wirecard's Braun dumps stock, joins rank of ex-billionaires
Former CEO has disposed of 5.5m shares, which leaves him with 3% stake valued at roughly US$60m
Thu, Jun 25, 2020 - 5:50 AM
Mr Braun, 51, pledged about half of his stake in December 2017 to secure a 150 million-euro credit line. That loan was provided by Deutsche Bank AG, which has since divested it.
MARKUS Braun started last week with a US$1 billion stake in Wirecard AG, the digital payments company he ran. By the end of the week he was out of his job as chief executive officer and more than half his shares had been liquidated to meet a margin call.