Markus Braun, the disgraced ex-boss of Wirecard, has been forced to rely on state provided legal support after his former lawyer quit because of lack of funds.
Braun, who is charged with fraud, breach of trust, account rigging and market manipulation relating to the collapse of Wirecard, has been in custody since July 2020.
To defend the charges, which carry a penalty of up to 15 years in jail, Braun hired Alfred Dierlamm, one of Germany’s most prominent white-collar crime lawyers.
Dierlamm has now walked away from the case after the funds of Braun’s directors and officers insurance ran out. Braun, who was a billionaire during Wirecard’s heyday due to his hefty shareholding, was left penniless in the aftermath of Wirecard’s implosion.
Braun denies the charges and has been attempting to pin the blame on former CFO and, it now transpires, Russian FSB agent Jan Marsalek, who remains on the run.
He will now have to rely on a government-paid lawyer who will remain in charge and be backed by two additional state-funded lawyers to defend his case, which is expected to continue into the new year.
