WIESBADEN: German prosecutors have remanded in custody two more local Carat executives and have issued an arrest warrant for a third as they investigate alleged fraud at the media agency group.

The authorities detained former country chief Aleksander Ruzicka last month, fearing him a possible flight risk, and are now holding Carat ceo Heinrich Kernebeck and David Linn, who was responsible for TV purchasing at Aegis's Wiesbaden-based media buying arm.

They are also seeking Claudia Jackson, Linn's colleague, who is believed to be in Argentina.

A lawyer, Cornelius Weber, has also been charged with contriving to create a network of hidden companies in connection with the alleged embezzlement.

Investigators believe the sums involved run to at least €32 million ($42m; £21m).

When the allegations were initially revealed in September, Aegis Media EMEA ceo Jerry Bulhmann stressed the company was not being investigated, but rather was the injured party.

Data sourced from mandmeurope.com; additional content by WARC staff