three and a half years after the diesel scandal, Volkswagen won’t let go: Now, the U.S. securities and exchange Commission SEC charges against the group and its former chief Executive, Martin winter, has raised the grain. They accused the Wolfsburg carmaker and the former group chief Executive, to investors in the United States cheated. VW have issued from April 2014 to may 2015 corporate bonds and securitised securities in the amount of about 13 billion dollars, as the Top Manager of the group had already known of the exhaust gas manipulation. The group had paid “hundreds of millions of dollars” never back that he had taken in the transactions in securities “in a fraudulent manner”. Winterkorn’s outstanding lawyer could not be reached on Friday. His spokesman declined to comment and referred questions to VW.
the “Significant legal and substantive shortcomings”
Volkswagen said that the group will continue to vigorously against the unprecedented action to fight back. You are on the way, “significant legal and substantive shortcomings”. The securities, which had only been experienced wholesale investors sold. The investors had not been harmed and have received all of the documents related to payments in full and on time.
“The SEC does not expressly provide for the accusation that any of the in the issue of the bonds that the people involved had knowledge that the diesel vehicles from Volkswagen meet the U.S. emission regulations,” explained the group. Instead, the authority only repeating “unsubstantiated allegations against the then Chairman of the Board”, which was not involved in the sales of the bonds. Volkswagen recalled the two years ago with the U.S. Department of justice, almost every state in the US and about half a Million consumers in the United States comparison, had cost the group more than $ 25 billion. “Not only is the SEC now, once again zusatteln.”
Ex-VW boss Martin Winterkorn didn’t want to comment on the action brought by the SEC.Photo: Hannibal Hanschke/File Photo/REUTERS
The company had already indicated in its on Tuesday presented the annual report for the year 2018 to the fact that the SEC had requested information regarding potential violations of securities laws.
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The cost of this scandal will amount to VW, in the meantime, on 29 billion dollars
The diesel scandal was on 18. September 2015, became known. A few days later, Winterkorn resigned. The group is well-known in the United States is guilty, the exhaust gas values are manipulated, and to have this in front of the authorities, veiled, and agreed to a penalty of $ 4.3 billion. Overall, including winter grain and four Audi Manager, were indicted in the United States 13 people. Against winter grain, the U.S. Department of justice, issued a warrant for your arrest. The U.S. attorney’s office accuses the 71-Year-old conspiracy to deceive the authorities in the exhaust gas manipulation.
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Heike Jahberg
Including fines against VW and subsidiary Audi in Germany and other expenditure costs for the reparation of the diesel scandal towers now at 29 billion euros. In Germany, Volkswagen is also faced with Thousands of lawsuits from consumers and investors. Alone in a pattern of action by the Fund company Deka Investment due to sustained losses before the higher regional court of Braunschweig, it comes to a total of nine billion euros.