Former Volkswagen boss Martin Winterkorn has to answer an oil scandal court on suspicion of market manipulation. The Braunschweig Regional Court has admitted the prosecution’s prosecution, as announced on Thursday. Just about two weeks ago, the district court conceded charges against Winterkorn on suspicion of fraud.
The diesel scandal became known on September 18, 2015, when Winterkorn led the VW Group. The share price of the carmaker fell shortly afterwards.
In September, the prosecutor’s office filed charges against Winterkorn and Volkswagen chief Herbert Diess and supervisory board chairman Hans Dieter Pötsch. She accused them of deliberately informing the capital market too late about the Volkswagen oil scandal, and thus “illegally influencing the company’s stock market price.” The proceedings against Diess and Pötsch were terminated in May and each had to pay 4.5 million euros. (AFP)