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Reports: Wirecard Raided By Prosecutors Over Missing EUR 1.9 Bln

Wirecard AG's (WRCDF.PK) headquarters were raided by Munich prosecutors as part of an investigation related to the 1.9 billion euros in missing funds from the company's accounts, according to reports.

Searches at Wirecard's other properties were also reportedly carried out by prosecutors and police officers in connection with the payments company's activities.

The raids were part of the investigation that led to the arrest of Wirecard's former Chief Executive Markus Braun on fraud charges last week.

Last Thursday, Wirecard decided to file an application for the opening of insolvency proceedings. The company has said the 1.9 billion euros of missing cash probably does not exist.

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