US regulators have charged Volkswagen and its former chief executive Martin Winterkorn with defrauding investors during its massive diesel emissions scandal. US regulators have charged Volkswagen and its former chief executive Martin Winterkorn with defrauding investors during its massive diesel emissions scandal. “Volkswagen hid its decade-long emissions scheme while it was selling billions of dollars of its bonds to investors at inflated prices,” said Stephanie Avakian, co-director of the SEC’s enforcement division. It has also pleaded guilty to criminal charges in the US and several managers, including Winterkorn, were charged there. The SEC’s complaint, filed in the US District Court for the Northern District of California, charges Volkswagen AG, its subsidiaries Volkswagen Group of America Finance and VW Credit, and Winterkorn with violating the anti-fraud provisions of federal securities laws.

Source: Irish Independent March 15, 2019 10:41 UTC