The German carmaker also said it would be receiving 270 million euros from liability insurance against loss from the actions of directors and officers. Mr Winterkorn, who has denied wrongdoing, resigned a few days after the September 18 2015 notice of violation from the EPA. US environmental regulators were alerted to the emissions problems in May 2014 by a study from the West Virginia University’s Centre for Alternative Fuels, Engines & Emissions. The company said Mr Winterkorn also failed to ensure that the company answered questions from US regulators “truthfully, completely and without delay”. Under the agreements, Rupert Stadler, former head of the Audi luxury car division, would pay 4.1 million euros, former Audi executive Stefan Knirsch one million euros and former Porsche executive Wolfgang Hatz 1.5 million euros.

Source: Irish Independent June 09, 2021 12:56 UTC