Wirecards former chief economic officer burkhard ley, who held the role for longer than ten years, has been released on bail after spending significantly more than three months in police custody, munich prosecutors said on monday.

Mr ley, who was wirecards cfo between 2006 and 2017, was one of four former executives of this german repayments organization who were arrested in july after the groups failure in just one of the countrys biggest accounting frauds since the 2nd globe war.

Three other suspects previous leader markus braun, former head of accounting stephan von erffa, and oliver bellenhaus, which headed a dubai-based wirecard subsidiary stay in custody. the prosecutors have accused all four of fraud, embezzlement and marketplace manipulation.

Munich prosecutors on monday said mr ley was released on bail because their particular ongoing investigation has actually up to now suggested that most associated with so-called misconduct took place after late 2017 where time he had remaining the companys administration board.

According to your prosecutors viewpoint, important crimes, which caused considerable damage, had been conducted after [mr ley] retired through the management board, the prosecutors said in a statement.

In contrast to one other suspects in custody, the risk that mr ley, whose possessions happen seized, may tamper with research or continue the run was lower, the prosecutors included. wirecards former cfo normally dealing with considerable bail terms, that the prosecutors declined to reveal at length.

An attorney for mr ley cannot instantly be reached for comment.

Mr bellenhaus features converted into a primary experience and it is co-operating aided by the prosecutors. mr braun, mr ley and mr von erffa deny wrongdoing. nobody was however already been recharged once the criminal examination is continuous.

Mr braun was first arrested in mid-june but initially introduced on a 5m bail. he had been rearrested per month later following the prosecutors substantially widened the allegations against him.

Munich prosecutors will always be seeking wirecards previous main operating officer jan marsalek, who vanished soon after the organization disclosed on summer 18 that it was lacking 1.9bn in cash.