In the US, the trial of ex-VW boss Martin Winterkorn begins because of misleading investors in connection with the diesel scandal. The appointment for the first hearing, the manager but first move.
VW CEO Winterkorn: SEC accuses him of deception of investors
Thursday, 04.04.2019
07:29 clock
The process will probably take place anyway without him, but even his lawyer does not have time: The former Volkswagen boss Martin Winterkorn has requested the postponement of a first hearing in the “Dieselgate” lawsuit with the US Securities and Exchange Commission. With Winterkorn’s lead attorney prevented on April 23, the appointment should be postponed to 10 May in consultation with the other defendants and the SEC, according to a motion filed Wednesday with the San Francisco court.
The stock exchange supervision had VW and Winterkorn sued in mid-March. The accusation: The group should during the Exhaust scandal Between April 2014 and May 2015, under false pretenses, they raised more than $ 13 billion in bonds on the US capital market. Investors were fooled that serious violations of US environmental laws were committed at the time. VW announced that it would “emphatically” defend itself against the lawsuit.
The case is being conducted by Judge Charles Breyer, where numerous other US emissions lawsuits have been filed against VW. Against the ex-VW boss, the United States issued in May 2018 arrest warrant, it is accused of conspiracy to violate environmental laws and deception of the authorities. A conviction would be a long prison sentence. However, Germany should not face extradition.
The US judiciary had previously filed criminal charges against a number of other employees of the VW Group. Two of them, the engineer James Liang and the Manager Oliver Schmidt, were sentenced in August and December 2017 respectively to several years imprisonment and heavy fines, Until the SEC lawsuit, it seemed as if VW at the corporate level, the legal processing of Exhaust affair already completed in the US with billion-dollar comparisons.