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Ex-VW CEO investigated for market manipulation - Daily News Egypt

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Ex-VW CEO investigated for market manipulation

German prosecutors say they have launched a formal probe into market manipulation by Martin Winterkorn, the former chief executive at Volkswagen, over his role in the German carmaker's diesel emissions scandal


German prosecutors say they have launched a formal probe into market manipulation by Martin Winterkorn, the former chief executive at Volkswagen, over his role in the German carmaker’s diesel emissions scandal
Prosecutors in the German city of Braunschweig said Monday they had opened a formal investigation into the role of former Volkswagen chief executive (CEO) Martin Winterkorn in the German carmaker’s dieselgate scandal. In addition, a second person was under investigation, the prosecutor’s office said in a statement, but refrained from identifying the person.

Last September, VW was caught cheating on its diesel emissions in testing in the United States. The company stands accused of having used so-called “defeat devices” aimed at artificially lowering exhaust emissions during the tests. VW has admitted that such software has been used in more than 11 million vehicles worldwide.

More to follow soon.

uhe/jtm (dpa, AP)

Topics: Volkswagen

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