Former Wirecard CEO Markus Braun arrested again - reports

The former chief executive of collapsed German payments processor Wirecard has reportedly been arrested again in Munich.

According to reports, Markus Braun and two board members were arrested on Wednesday amid allegations they were aware of losses at the company since 2015.

The three conspired to obtain about €3.2bn in fraudulent loans, Munich prosecutors said, according to Bloomberg.

"In reality, the suspects knew at least at the end of 2015 that the Wirecard Group was losing money," prosecutors said. "Deceived by faked accounts, banks in Germany and Japan as well as other investors granted funds of about 3.2 billion euros, which are now most likely lost."

Shares of Wirecard tumbled in June after the company said its auditor could not find €1.9bn of bank deposits and that fraud may have occurred. Braun resigned the following day after broadcasting a video in which he said the business could have been the victim of a considerable fraud.

He was later arrested on suspicion of accounting fraud and released after posting a €5m bail.

Wirecard filed for insolvency a month ago after saying that the missing money likely never existed.