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German prosecutors indict top VW bosses over emissions scandal

Business

German prosecutors brought criminal charges of stock market manipulation against Volkswagen CEO Herbert Diess, former CEO Martin Winterkorn and Chairman Hans Dieter Poetsch in relation to an emissions cheating scandal.

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FRANKFURT: German prosecutors have brought criminal charges of stock market manipulation against Volkswagen CEO Herbert Diess, former CEO Martin Winterkorn and Chairman Hans Dieter Poetsch in connection with the carmaker's emissions cheating scandal.

The accused intentionally failed to inform investors in time about the financial impact of the scandal, the prosecutors' office in the northern city of Braunschweig said on Tuesday.

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Court proceedings are underway over the company's admission in 2015 to using illegal engine control software to rig diesel emissions tests. The Braunschweig prosecutors' indictment is part of a separate legal push to try managers over allegations they delayed disclosing the scandal to investors.

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