Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

German prosecutors charge more VW managers in emissions scandal

Published 04/24/2021, 06:27 AM
Updated 04/24/2021, 09:05 AM
© Reuters. FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris

BERLIN (Reuters) -German prosecutors have charged 15 executives from Volkswagen AG (OTC:VWAGY) and a car supplier in connection with the diesel emissions scandal that emerged in 2015, a spokesman for the prosecutor's office said on Saturday.

The suspects are accused of aiding and abetting fraud in combination with tax evasion, indirect false certification and criminal advertising, said Klaus Ziehe from the prosecutor's office in the northern city of Braunschweig.

The scandal saw more than nine million vehicles of the VW, Audi, Seat and Skoda brands sold to consumers with a so-called defeat device which helped to circumvent environmental tests of diesel engines.

The prosecutor's office did not name any of the charged executives, who are accused of bringing cars onto the market in a condition that was not officially approved, meaning they were illegal and advertised misleadingly, Ziehe said.

He added the indictment had now reached 1554 pages.

The prosecutions were earlier reported by news agency Deutsche Presse-Agentur (dpa).

A Volkswagen (DE:VOWG_p) spokesman said a criminal investigation against the company was dropped in 2018 after it paid a fine, adding that the company was not involved in the upcoming trail against individual suspects.

"Against this background, we do not comment on the other charges that have come to light...," the spokesman added.

© Reuters. FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris

Volkswagen said last month that it would claim damages from its former CEO Martin Winterkorn and former Audi boss Rupert Stadler over the diesel emissions scandal, which was discovered in 2015, as it looks to draw a line under its biggest-ever crisis.

The trial of Winterkorn and the other managers has been postponed until September due to the pandemic.

Latest comments

Buy TSLA
here we go again
And this company to compete with Tesla?
Tesla is not better ... BARAT is good ! and BRAT is good !
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.