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Business

Trial Begins for Fallen Neuer Markt Star

In the second of a series of trials in the aftermath of the collapse of Germany's answer to the NASDAQ, former ComRoad CEO Bodo Schnabel had his first day in a Munich regional court on Thursday. Prosecutors accuse the former high-flying CEO of having invented almost all of the telematics company's "millions" in earnings and thus having manipulated ComRoad's stock price on the Neuer Markt. On Thursday, Schnabel denied the charges against him. In a strange twist, however, Schnabel's wife, a co-defendant, confessed to all of the charges against her.