Jailed Ex-Wirecard CEO Sues Chubb to Pick Up His Legal Bills

Markus Braun, the former chief executive officer of scandal-ridden Wirecard AG who has been in jail for almost a year, sued insurance giant Chubb Ltd. to make it pick up his legal bills, people familiar with the case said.

Braun, who is being investigated over Wirecard’s demise, won an initial ruling in January in a Frankfurt court ordering Chubb to cover the costs under so called D&O insurance that his now-defunct employer had bought for top managers, said the people who asked not to be named because they aren’t authorized to speak about the matter.