Volkswagen CEO Matthias Mueller being investigated in emissions scandal
|Toronto Star 17 May 2017 at 10:22|
Volkswagen Group CEO Matthias Mueller is pictured on a screen during the carmaker s annual general meeting in Hanover, northern Germany, in early May. German prosecutors said on May, 17, 2017 they had opened a new investigation into Mueller and others over market manipulation in the wake of the carmaker s diesel-emissions scandal. (RONNY HARTMANN / AFP/GETTY IMAGES file photo)
Wed., May 17, 2017
BERLIN—Stuttgart prosecutors say they’re investigating whether Volkswagen CEO Matthias Mueller, among others, manipulated markets by not releasing information about VW’s diesel cheating soon enough.
In a statement Wednesday, prosecutors confirmed media reports that Germany’s Federal Financial Supervisory Authority filed a complaint in 2016 against executives from Stuttgart-based Porsche Automobil Holding SE, the holding company that controls Volkswagen.
Volkswagen profit jumps on new vehicles, cost controls
Complaints were also filed against Hans Dieter Poetsch, who has roles at both companies, and Martin Winterkorn, the former VW CEO who quit after the scandal broke in 2015.
All three were executives at Porsche SE when the scandal came to light.
Prosecutors said they’re investigating whether they delayed releasing information about VW’s manipulation of software to cheat emissions tests, and its possible financial implications on the holding company.