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German watchdog files new Wirecard insider trading complaint

Credit: REUTERS/Andreas Gebert

The German financial watchdog BaFin said on Tuesday that it had filed a complaint with Munich prosecutors over a further episode of alleged insider trading in Wirecard.

Updates with details

FRANKFURT/MUNICH, July 14 (Reuters) - The German financial watchdog BaFin said on Tuesday that it had filed a complaint with Munich prosecutors over a further episode of alleged insider trading in Wirecard WDIG.DE.

BaFin said the transaction took place on June 24, the day before Wirecard filed for insolvency.

It said it involved a 6.6 million euro ($7.52 million) sale in shares by MB Beteiligungsgesellschaft mbH. That is the investment vehicle of the former chief executive Markus Braun, once one of the collapsed payment company's largest shareholders.

A law firm representing Braun didn't immediately respond to requests for comment.

A further sale of 3.4 million euros in shares by the same investment company is also under investigation, a spokeswoman for BaFin said.

($1 = 0.8774 euros)

(Reporting by Hans Seidenstuecker and Alexander Huebner; writing by Tom Sims. Editing by Jane Merriman and Nick Macfie)

((Tom.Sims@thomsonreuters.com; +49 69 7565 1242;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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