"Wirecard offices searched as prosecutors probe management board"

The FT's Dan McCrum and Olaf Storbeck
German financial watchdog filed criminal complaint against CEO Markus Braun and three other top executives

Wirecard’s headquarters were searched by police on Friday after Munich prosecutors launched a criminal investigation against chief executive Markus Braun and the payment group’s three other executive board members.

In a statement on Friday, Munich prosecutors said that the search followed a criminal complaint submitted a few days earlier by BaFin, Germany’s financial watchdog. The complaint relates to potentially misleading statements made by Wirecard to investors ahead of the publication of a special audit by KPMG in late April. ...

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Besides everything else, Wirecard probably won't be in the DAX at the next reshuffle.