Skip to main content

Report: Pötsch and Müller Under Investigation for Market Manipulation

Volkswagen’s CEO and its chairman are being investigated by Stuttgart prosecutors over allegations of market manipulation. The investigation comes in the wake of the diesel emissions scandal.

Müller and Pötsch, along with VW’s former CEO Martin Winterkorn, who is also under investigation, have held positions at both VW and Porsche SE, the holding company that owns most of VW’s stock, and the investigation centers around their dual roles.

The prosecutors are looking into whether or not whether or not the three men were too slow in telling Porsche SE’s shareholders about the emissions cheating, according to an anonymous source who spoke to Bloomberg.

“We believe Porsche SE fulfilled its obligations to comply with capital market rules,” said Porsche SE spokesperson Albrecht Bamler.

Although Pötsch and Winterkorn are already being investigated in another probe, this investigation marks the first time that Matthias Müller, who joined the VW after the scandal came to light, has been named by prosecutors in a matter related to the dieselgate scandal.

The probe comes following a complaint from last summer from German financial regular Bafin.

[source: Bloomberg]

The post Report: Pötsch and Müller Under Investigation for Market Manipulation appeared first on VWVortex.



from VWVortex http://ift.tt/2r1bVj9
via IFTTT

Comments

Popular posts from this blog

Watch: The Story of the Ads that Made VW Big in America

The ads for the original Beetle are almost as famous and well-loved as the Beetle itself. Looking back now it’s easy to forget, though, just how easily things could have wrong. A new short from Dial M Films tracks the history of those early Volkswagen ads that sold America on the people’s car. The story, of course, begins with the visionary agency that made the ads: Doyle Dane Bernach (DDB). As a popular agency for Jewish products, no agency was more aware of the implications of Volkswagen, and no one, it seems, was more skeptical of the brand than DDB. “Remember Those Great Volkswagen Ads?” from Dial M Films on Vimeo . William Bernbach, though, was adament that the firm take the client, probably as a way of attracting other lucrative automotive clients. Saddled with a client that he didn’t want, art director Helmut Krone says in the film that he originally came up with ads that were all wrong. Krone tried to do what other manufacturers did and was intent on selling the Beetle ...

Watch: The Stig Drives (nearly) Seven Generations of Golf GTI

With Volkswagen announcing “major” updates to the Golf, it seems an appropriate time to look back on what we’ve had so far. And who better to guide us through the rich history of the most popular European car ever made than Ben Collins, the former Stig? Some say he’s never met a GTI he doesn’t love, and that he can’t grow any of his own facial hair. All we know is … Ben Collins is actually a pretty solid presenter. Working his way through seven generations of the GTI (skipping over the Mk6) Collins tells us a little bit about each one and matches each mark to its corresponding facial hair craze. The Mk1 GTI for instance, is light and quick, but can lose traction under hard acceleration (in heavy rain). Despite that, Collins calls the Mk1 a “pure gem.” The Mk4, meanwhile, is a powerful return to form after the perhaps too sensible Mk3. Collins ends in the only way he could, with the Mk7, which accelerates faster than a Lamborghini Countach and is all kinds of wonderful. Watch, ...

Volkswagen Golf GTE Wins Top Honor at the 2015 Business Techies Awards

Golf GTE wins Green category in the 2015 BusinessCar Fleet Technology awards Judges praised the Golf GTE for its performance, ease of use and economy Golf GTE launched earlier this year with plug-in hybrid technology – priced from £33,755 204 PS performance combined with CO 2  emissions of just 39 g/km Volkswagen has added to its growing list of 2015 automotive industry accolades by winning the Green category in the annual BusinessCar Fleet Technology Awards – the Techies. The prestigious title was awarded to Volkswagen for the Golf GTE, an innovative plug-in hybrid that combines sporty dynamics with exceptional fuel economy and low CO 2  emissions. Now in their seventh year, the Techies are judged by both BusinessCar’s experienced editorial panel with help from TRL’s technology expert. The industry’s only technology-specific awards, the BusinessCar Techies reward the use of technology to make business car fleet operations easier, cheaper, cleaner, safer and more straig...