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Monday 5 December 2016
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Former VW CEO Under Investigation By Germans

Former VW CEO Under Investigation By Germans

Former Volkswagen chief Martin Winterkorn is reportedly under investigation by German authorities over his role in the diesel emissions scandal.

Prosecutors are attempting to determine if Winterkorn and a fellow executive, who hasn’t been identified yet, may have improperly delayed disclosures to investors, sources have told the Associated Press.

VW chose to issue a formal public notice to investors on September 22. However, the company is believed to have been aware of the Environmental Protection Agency and California Air Resources Board inquiries at least a month earlier. The automaker is said to have acknowledged an internal memo related to emissions irregularities as far back as 2014.

The company is currently dealing with multiple lawsuits filed by disgruntled investors. Any prosecution of Winterkorn or other executives could fuel additional civil litigation.

Winterkorn resigned his post just days after the EPA issued its first public notice of the diesel emissions cheat.

Photo Credit: Volkswagen