(Bloomberg) — Wirecard AG’s former boss Markus Braun is unwinding a large portion of the shares he owns in the embattled payments processor, a stake he financed by borrowing against the stock’s value, according to a person familiar with the matter.Former Chief Executive Officer Braun, who held 7% of Wirecard’s shares to rank as the company’s biggest shareholder, had funded his purchase through a 150 million-euro margin loan that was secured by the value of the underlying stock. Wirecard’s shares plunged 72% last week after billions in cash went missing, triggering a liquidation of the shares Braun had pledged as …read more
Source:: Yahoo Finance
