Former Wirecard boss arrested

The former chief executive of Germany's Wirecard, Markus Braun, has been arrested, prosecutors in Munich say, as the company spirals deeper into crisis over hundreds of millions of euros in missing funds.

Shares in the DAX-listed payment services company have been in freefall since last week, when a 1.9 billion-euro ($A3.1 billion) hole emerged in its balance sheet.

The Munich prosecutor's office is investigating Braun, who stepped down on Friday, and three other company managers, on suspicion of providing incorrect information to shareholders in two mandatory statements.