Proceedings against ex-VW boss Winterkorn resumed
As he is accused of having known about the emissions manipulation in the diesel scandal, former VW Group CEO Winterkorn must stand trial. Proceedings were discontinued in January 2021 due to his illness. However, the Braunschweig Regional Court is now reopening it.
The emissions scandal surrounding manipulated diesel engines at Volkswagen is catching up with former Group CEO Martin Winterkorn. The Braunschweig Regional Court has reopened the proceedings on suspicion of market manipulation, as the court announced. It is not yet clear when the trial will begin.
In the indictment filed by the Braunschweig public prosecutor's office in September 2019, the defendant is accused of failing to inform the capital market in good time about the installation of an unlawful defeat device in diesel engines. At the beginning of January 2021, the proceedings against Winterkorn, who was forced to resign after the diesel scandal broke in 2015, were provisionally suspended due to illness.
At the time, the chamber based its decision on the so-called NOx proceedings, including allegations of commercial fraud. The expected penalty in the proceedings would not be significant in comparison. Winterkorn had denied the allegations against him and claimed that he had known nothing about the illegal activities before the manipulations became known.
Four Volkswagen managers have been on trial since September 2021
Winterkorn could not be tried in the NOx proceedings because, according to the court, he was not in a fit state of health to do so. For this reason, the regional court is now resuming the proceedings on suspicion of market manipulation at the request of the public prosecutor's office. In addition, according to the court, it has now come to the conclusion that the penalty for violating the Securities Trading Act could have an impact after all.
Four Volkswagen managers have been on trial before the regional court since September 2021. Ex-Audi boss Rupert Stadler was already sentenced to a suspended sentence in Munich in June. In mid-December, the Braunschweig Regional Court also admitted the charges against seven other employees of the VW Group. They are accused of fraud in a particularly serious case and a violation of the law against unlawful competition. Some of the defendants are also accused of possible tax evasion.
The court did not name the defendants. The fall of 2006, when the targeted deceptions are said to have begun, was a time when VW wanted to catch up with its competitors in the difficult US market. A major marketing offensive on "clean diesel" was intended to win over more customers.
In September 2015, it came to light that the company was falsifying the measured values using hidden software codes instead of using more expensive emissions technology. These ensured that the emissions were fully cleaned in tests, but were many times higher in road use. The discovery of the scandal plunged VW into the worst crisis in its history. The car manufacturer put the cost of the "consequences of the diesel issue" at around 32 billion euros.
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The former Volkswagen Group CEO, Martin Winterkorn, is once again under scrutiny due to his alleged involvement in the diesel emissions scandal. The Braunschweig Regional Court has resumed the proceedings against him, accusing him of market manipulation based on the public prosecutor's indictment.
Despite his illness leading to a temporary halt in the proceedings in early 2021, the court has now decided to resume the case given the potential impact of violating the Securities Trading Act.
Source: www.ntv.de
