Munich Prosecutors Arrest Another Manager in Wirecard Probe (1)

July 6, 2020, 4:36 PM

Munich prosecutors on Monday arrested the managing director of a Dubai-based Wirecard AG unit as part of their investigation into the German fintech company’s accounting scandal.

Oliver Bellenhaus was arrested, according to a person familiar with the issue who asked not to be named because the information isn’t public. Prosecutors identified the man as the managing director of Cardsystems Middle East FZ-LLC, without naming him in their emailed statement Monday. Bellenhaus headed that unit, which has been dissolved.

Attempts to contact Bellenhaus for comment were unsuccessful.

Bellenhaus is being probed for fraud allegations and helping in other crimes. He ...

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