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Ex-Volkswagen boss investigated over market manipulation claims

Published 20/06/2016

Martin Winterkorn is being investigated over allegations of market manipulation in connection with the emissions scandal
Martin Winterkorn is being investigated over allegations of market manipulation in connection with the emissions scandal

German prosecutors have opened an investigation into former Volkswagen boss Martin Winterkorn over allegations of market manipulation in connection with the emissions scandal.

Mr Winterkorn and one other unidentified VW employee are being investigated on allegations they did not release information about cheating on US diesel emissions tests quickly enough.

The investigation is being opened on the orders of Germany's Federal Financial Supervisory Authority.

Mr Winterkorn stepped down as the scandal came to light, saying he was doing so "in the interests of the company even though I am not aware of any wrongdoing on my part".

Last week, the German car-maker said that it plans to manufacture more electric cars in an attempt to move on from the scandal.

New chief executive Matthias Mueller said the company plans to introduce more than 30 electric-powered vehicles by 2025.

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From Belfast Telegraph