INSIDER
Trial of former Volkswagen CEO Winterkorn over diesel scandal set to start in September
Read full article: Trial of former Volkswagen CEO Winterkorn over diesel scandal set to start in SeptemberA German court says former Volkswagen CEO Martin Winterkorn will go on trial in September on charges of fraud and market manipulation linked to the automakerโs diesel emissions scandal.
Former Audi chief on trial in VW diesel emissions scandal
Read full article: Former Audi chief on trial in VW diesel emissions scandalRupert Stadler, former CEO of German car manufacturer Audi, arrives at a district court in Munich, Germany, Wednesday, Sept. 30, 2020. Stadler stands trial in Germany over the "dieselgate" emissions scandal, five years after parent company VW admitted responsibility. (AP Photo/Matthias Schrader)FRANKFURT โ The former head of Volkswagen's Audi luxury car division and three others went on trial Wednesday on charges related to the company's cheating on diesel car emissions tests. Former development executive Wolfgang Hatz and two other engineers are charged with developing 3.0 liter diesel engines for Audi, Volkswagen and Porsche that used the illegal software. The case involves 250,700 Audi vehicles, 71,600 Volkswagen vehicles, and 112,100 Porsche vehicles mostly sold on the U.S. and European markets.
Former VW boss Winterkorn faces trial on 2nd set of charges
Read full article: Former VW boss Winterkorn faces trial on 2nd set of chargesBERLIN โ A German court has ruled that former Volkswagen CEO Martin Winterkorn must face trial on a second set of charges in the company's diesel emissions scandal, this time accused of market manipulation. Thursday's announcement by the Braunschweig state court followed a decision earlier this month that he must stand trial on fraud charges. No date has been set for either set of proceedings. Winterkorn resigned from Volkswagen days after the U.S. Environmental Protection Agency announced a notice of violation on Sept. 18, 2015. The court said it sent the charges to trial unchanged.
Former VW boss Winterkorn must stand trial in diesel scandal
Read full article: Former VW boss Winterkorn must stand trial in diesel scandalFRANKFURT A German court has ruled former Volkswagen CEO Martin Winterkorn must stand trial on fraud charges in connection with the company's diesel emission scandal in which it sold cars with software that let them cheat on emissions tests. It said four other defendants would face trial on charges of fraud in connection with aggravated tax evasion and illegal advertising. Winterkorn resigned from Volkswagen days after the U.S. Environmental Protection Agency announced a notice of violation on Sept. 18, 2015. The company had for years been using software that recognized when vehicles were on test stands and turned emission controls on, then turned the emission controls off during normal driving. Volkswagen paid more than 30 billion euros ($33 billion) in fines and settlements over the scandal.
Volkswagen CEO, chairman charged in emissions scandal
Read full article: Volkswagen CEO, chairman charged in emissions scandal(CNN) - Volkswagen CEO Herbert Diess and the company's chairman, Hans Dieter Ptsch, were charged by German prosecutors on Tuesday with market manipulation tied to the carmaker's diesel emissions scandal. The two executives are accused of failing to disclose the huge financial risks of the diesel scandal to shareholders in a timely fashion. Martin Winterkorn, the former CEO of Volkswagen, was also charged by prosecutors. It's the latest fallout from Volkswagen's bombshell admission in 2015 that it had rigged millions of diesel cars worldwide to cheat on emissions tests, a scandal that has cost the company more than $30 billion. The-CNN-Wire & 2019 Cable News Network, Inc., a Time Warner Company.
Man who turned Volkswagen into powerhouse has died
Read full article: Man who turned Volkswagen into powerhouse has died(CNN) - Ferdinand Piech, who helped turn Volkswagen into the world's biggest carmaker before resigning ahead of one of the most tumultuous periods in the company's history, has died. Piech led the German automotive giant in various capacities for more than two decades. The grandson of legendary carmaker Ferdinand Porsche, Piech began his career at Audi and took over as CEO of Volkswagen in 1993. Piech stepped down as Volkswagen chairman in April 2015 after a failed attempt to oust CEO Martin Winterkorn, who had led the company for eight years. A holding company run by members of the the Porsche and Piech families still controls about 53% of the Volkswagen Group.
Former Audi CEO Rupert Stadler charged in diesel scandal
Read full article: Former Audi CEO Rupert Stadler charged in diesel scandal(CNN) - German prosecutors have charged former Audi CEO Rupert Stadler with fraud in connection with the 2015 diesel emissions scandal that rocked the Volkswagen Group. The charges relate to nearly 435,000 Audis, Porsche and Volkswagen cars destined for the U.S. and European markets. Stadler had worked for Volkswagen since 1990 before he was arrested in June 2018 in connection with the diesel scandal. The diesel scandal trashed confidence among consumers and regulators in diesel technology and cost Volkswagen more than $30 billion in recalls, legal penalties and settlements. In April, German prosecutors charged former Volkswagen chief executive Martin Winterkorn with fraud over diesel emissions.