Volkswagen Group chairman settles market manipulation case in Germany

Volkswagen Group chairman settles market manipulation case in Germany

August 21, 2020 0 By autotimesnews

Hans-Dieter Pötsch paid a € 1.5 million fine.

Volkswagen Group chairman Hans-Dieter Pötsch has paid a € 1.5 million fine in Germany’s market manipulation scandal. The essence of the lawsuit was that he and the rest of the leaders of the concern late informed the public about the manipulation of the emission figures of diesel Porsche cars.

The case was reportedly closed not only against Pötsch, but also against Matthias Müller, who did not have to pay anything. At the same time, the investigation against Martin Winterkorn, the former CEO of both companies, will continue.

At the same time, the company issued a statement that the members of the board of directors did not violate the law, and the accusations against them are unfounded. All expenses of Hans-Dieter Pötsch will be covered from the Porsche budget. Let us remind you that a scandal called “dieselgate” broke out in 2015. Over the entire period of the proceedings, the VAG concern has paid more than 30 billion euros in fines and other costs. Some claims from dissatisfied customers have yet to be settled.