Martin Winterkorn, the former Volkswagen chief who was forced to resign thanks to Dieselgate, is no longer prosecuted for allegedly manipulating the market. That has been determined by the court in Braunschweig, Germany. However, the ruling does not mean that Winterkorn has been relieved of his worries.
According to the court, prosecuting Winterkorn for manipulating the market does not lead to a substantially higher fine, because the penalty imposed on the other forms of fraud is likely to be much higher.
Winterkorn was sued in 2019, along with other Volkswagen drivers, for failing to timely inform investors about the problems with the diesel cars. Since Volkswagen has each paid 4.5 million euros in damages for the other two drivers, the Braunschweig court decided that they would no longer be prosecuted. Winterkorn was still on the chopping block, but now this charge also arises.
The fallen Volkswagen CEO must still take a seat in the dock in February because of other fraud charges. The fact that this one charge has been dropped does not mean that Winterkorn can go to sleep peacefully. The CEO stepped down in 2015 after the Dieselgate affair surfaced. Since then, Volkswagen has had to pay billions of euros in settlements and fines. Whether Winterkorn will experience any personal consequences this year will soon become clear.
Source: AutoWeek by www.autoweek.nl.
*The article has been translated based on the content of AutoWeek by www.autoweek.nl. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!