Former Wirecard CEO rearrested in Munich as prosecutors suspect $3.7 billion fraud

The former CEO of collapsed German payments company Wirecard has been rearrested in Munich, prosecutors in the Bavarian capital said Wednesday.

Alongside Braun, the Munich public prosecutor's office said that two other unnamed former executives were also detained.

The firm collapsed into insolvency last month after revealing 1.9 billion euros of cash had gone missing from its accounts. Alongside Braun, the Munich public prosecutor's office said in a statement emailed to CNBC that two other unnamed former executives were also detained.

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