Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

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Volkswagen's emission scandal has been ragin for over a year now and has already resulted a $15 billion settlement in the United States alone.

Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

However, the German automotive giant's problems due to the cheating scandal just seem to going from bad to worse.

Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

Volkswagen on Sunday, November 6, confirmed that the chairman of the company's supervisory board, Hans Dieter Poetsch (seen above), is under investigation in Germany over the time he was the company's Chief Financial Officer.

Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

The investigators from the public prosecutor's office in Braunschweig, near VW's headquarters in Wolfsburg, Germany are looking at suspected market manipulation related to the emissions scandal by managers at Volkswagen.

Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

The probe which was started in June is already investigating VW brand manager Herbert Diess and former VW group CEO Martin Winterkorn, who was replaced by Poetsch as Chairman of the Supervisory committee after he was relieved of his duties over the scandal.

Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

In a statement VW said, "Based on careful examination by internal and external legal experts, the company reaffirms its belief that the Volkswagen Board of Management duly fulfilled its disclosure obligation under German capital markets law."

Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

VW also stated that Poetsch, who was finance chief of company from 2003 until he became chairman in October 2015, and the company itself would fully support the Braunschweig prosecutor's office in its investigation.

Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

The VW group has found itself in hot water again after an investigation by the California Air Resources Board (CARB) found new cheating software in Audi vehicles with automatic gearboxes that help them cheat emissions tests.

Volkswagen Emissions Scandal Woes Deepen — Chairman Under Investigation

For all the details on the new Audi emissions cheating device click here.

Read more on: #volkswagen #auto news
Story first published: Monday, November 7, 2016, 13:21 [IST]
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