Former Volkswagen Group CEO
Martin Winterkorn is under investigation by German authorities again. But this time, it’s for potential financial crimes.
According to The New York Times, German prosecutors revealed that they’re investigating whether Winterkorn violated securities laws by not revealing to financial watchdogs that
VW’s emissions were under investigation by the US’
Environmental Protection Agency. The implication seems to be that Winterkorn withheld information to keep the company’s stock price from collapsing.
This is the
second investigation into the former CEO’s role in the emissions scandal. Authorities wasted no time
launching an informal inquiry in late September, shortly after the
diesel scandal broke and Winterkorn resigned. In that case, investigators were looking into whether the 69-year-old was aware of the of the emissions-cheating software in the company’s diesel models.
German prosecutors also told the Gray Lady a second member of VW’s board of management was under investigation, but privacy laws prevented them from revealing a name. The authorities confirmed that it was not
former CFO and current chairman of the board
Hans Dieter Pötsch.
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