Wirecard, founded in 1999, is essentially a digital platform

Wirecard, founded in 1999, is essentially a digital platform that offers services related to digital payments. Customers and partners include, for example, credit card companies and online retailers. Wirecard employs over 5,800 people worldwide, according to the company. The rapid growth in market capitalization has brought the company into the illustrious circle of the 30 largest and most liquid listed companies in Germany in 2018, which the DAX index tracks.

Pending investigations
Wirecard has been making headlines for a long time now, including several articles by the British business newspaper “Financial Times” about alleged improper activities. Braun has repeatedly rejected the allegations. Meanwhile, official investigations are also underway.

The financial supervisory authority Bafin and the Munich public prosecutor are already busy with Wirecard in two ways. The Bafin has filed a criminal complaint about possibly misleading ad hoc reports from the company, and the prosecutors have since been investigating Braun and his fellow board members. In early June, they also searched the company's business premises. At the same time, it is checked whether speculators damage Wirecard with illegal price manipulation. According to media reports, both authorities now want to take Thursday's events into account.

Brown is also under pressure, the driving force of Wirecard. The Austrian, born in 1969, studied business informatics and has been on the company's board since 2002. In the meantime, he is not only CEO, but also a core shareholder of the company with a stake of around 7%.