Munich law enforcement officials have launched a raid on Wirecard AG’s offices in connection with the ongoing accounting scandal that led to the arrest of former CEO Markus Braun, according to multiple reports, including Reuters.
Meanwhile, Wirecard officials said the process to sell off assets has begun, as a court appointed creditors’ committee confirmed attorney Michael Jaffe as the company’s preliminary insolvency administrator.
The committee’s main role will be to stabilize the business, including its payments processing operations and to that end, intensive discussions are being held with customers, credit card organizations and trading partners.
A search for investors for the core parts of the company and various subsidiaries of Wirecard is underway.
“A large number of investors from all over the world have already contacted us who are interested in acquiring the core business or the independent and the successfully operative business divisions,” Jaffe said, in a release from Wirecard.
The company is also in touch with overseas licensed units of Wirecard, with the intent of continuing business and safeguarding customers.
A spokesperson for Wirecard said the company had no additional comment.
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