Martin Winterkorn and a Current VW Board Member Under Investigation by Prosecutor’s Office in Germany
In a recent round of investigation related to the emission scandal of Volkswagen, ex-CEO Martin Winterkorn and a board member of the company is being probed by the prosecutor's office of Brunswick, Germany.
The present member of the management board of Volkswagen Group was not named but is a target of a criminal investigation as is its ex-CEO Martin Winterkorn. The investigation is essentially related to market manipulation linked to the diesel-emissions scandal which the automaker faced last year.
The prosecutor's, in the home state of the auto maker in Lower Saxony though did not name the current board member but said the probe focuses on "sufficient real signs" that VW's duty to reveal likely financial damage from the emissions manipulations might have surfaces before September 22, 2015, at the time when the German car manufacturer admitted the wrongdoing publicly.
Hans Dieter Poetsch, the present VW Chairman and at that time the car company's finance chief is not under scrutiny according to the prosecutor's office. The new round of investigations was initiated by charges which were filed by BaFin financial regulator of Germany.
According to VW, the fresh round of probe does not give any new evidence of a likely negligence in duty by the accused managers.
However, in case the charges are proved against the accused, they could face penalty of fine or up to five years in prison.
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