Volkswagen admitted in September 2015 to installing secret software known as ‘defeat devices’ in 475,000 US 2.0-liter diesel cars to cheat exhaust emissions tests and make them appear cleaner in testing. Photo: ReutersBengaluru/Frankfurt: The Federal Bureau of Investigation (FBI) has arrested a Volkswagen AG executive on charges of conspiracy to defraud the US, the New York Times reported on Monday. “Volkswagen continues to cooperate with the Department of Justice as we work to resolve remaining matters in the US. It would not be appropriate to comment on any ongoing investigations or to discuss personnel matters,” it said. Volkswagen shares were up 2% at €141.75 by 0816 GMT, at the top of a 0.2%-weaker German blue-chip DAX, on the expected deal.

Source: Mint January 09, 2017 13:48 UTC