Everything has an end at some point. This also applies to the trial regarding the Wirecard fraud scandal. Although for some, the legal investigation into the payment processor's bankruptcy three and a half years ago may seem like an endless saga. Friday, December 8th, the main hearing of one of the biggest criminal cases in the economic history of the Federal Republic of Germany celebrated its first anniversary. By now, the Munich Regional Court's criminal chamber has completed 86 trial days.

For presiding judge Markus Födisch, the search for truth proves to be particularly challenging. This challenge is not only rooted in the scale of the case but is also exacerbated by the behavior of two out of the three defendants. The main suspect, former CEO Markus Braun, and key witness Oliver Bellenhaus, the former corporate representative in Dubai, have engaged in a duel over culpability since the beginning of the trial in December 2022. While Bellenhaus confessed to all charges brought by the prosecution at the start of the trial and subsequently heavily incriminated Braun in court, the 54-year-old Viennese native denies all accusations. According to Braun, he considers himself innocent and sees himself in the role of a victim. He adheres to his counter-narrative of the events.

The investigators accuse the defendants of organized gang fraud, embezzlement, balance sheet forgery, and market manipulation. Their charges primarily rely on the statements and evidence provided by Bellenhaus. Födisch meticulously addresses the allegations through the questioning of numerous witnesses. Braun's decision to waive his right to remain silent helps the court proceed with questions, while his lawyers attempt to circumvent the legal proceedings with an abundance of evidence requests.

Their efforts have not succeeded. On the contrary, based on the current status, trial observers might get the impression that Braun's situation deteriorates as more witnesses testify in court. The former CEO increasingly struggles to explain the charges against him, getting entangled in contradictions. Even a farcical attempt by the fugitive former executive Jan Marsalek, who is being sought with an international arrest warrant, did not aid Braun. Marsalek's written statement, considered by Braun's defense as evidence of their client's innocence, holds no ground in court. The court rejected Braun's latest request for release, emphasizing that the suspicion of the crime persists. The Austrian has been in custody since July 2020.

It is clear that Födisch will continue the proceedings next year. Experience shows that court cases related to economic crimes tend to evolve into mammoth trials within the German justice system. This is especially true when there is significant public interest due to extensive damage and multiple defendants. The case of Rupert Stadler illustrates this. The former CEO of Volkswagen's subsidiary Audi and two co-defendants spent almost three years in court. It took 171 trial days to reach a verdict, which is not yet legally binding due to pending appeal applications. Stadler received a suspended prison sentence and a fine after admitting complicity in the diesel emissions manipulations. This was based on the court's previous indication of the expected punishment, which, following a lengthy evidence presentation, was not flattering for Stadler. He faced a prison sentence.

After the conclusion of the evidentiary phase in the Wirecard case, Födisch will likely provide his assessment to all parties involved before the criminal chamber delivers a verdict. Depending on its significance, this indication may influence the trial strategy of Braun and his defense. In this protracted legal proceeding, it could bring about a turning point, similar to the Stadler case.