Former Volkswagen CEO Martin Winterkorn to face trial over emissions scandal
Date
3/17/2024 7:18:07 AM
(MENAFN) Former Volkswagen CEO Martin Winterkorn is set to face trial in September for his involvement in the emissions-cheating scandal that rocked the German auto giant, a court in Germany announced on Friday, marking a significant development nine years after the scandal initially surfaced.
Volkswagen's reputation was severely tarnished in 2015 when it admitted to installing software designed to manipulate emissions levels in approximately 11 million diesel vehicles worldwide.
Winterkorn, now 76 years old, was originally slated to stand trial for fraud several years ago. However, the proceedings were postponed indefinitely due to his reported poor health.
The regional court in Brunswick, located near Volkswagen's headquarters in Wolfsburg, revealed that it had decided to consolidate two separate cases against Winterkorn. The charges against him include suspicion of fraud, making false statements, and market manipulation.
The trial is scheduled to commence on September 3, with a total of 89 hearings planned until September 2025.
Winterkorn is specifically accused of orchestrating commercial fraud in connection with the scandal, which involved the installation of "defeat devices" aimed at concealing the true emissions levels of vehicles during regulatory tests.
Additionally, Winterkorn faces allegations of market manipulation for purportedly neglecting to disclose vital information about the presence of the emissions-rigging software to investors, thereby violating German stock market regulations.
Following the eruption of the scandal in 2015, Winterkorn resigned from his position as CEO of the Volkswagen Group, which encompasses several renowned brands such as Audi, Porsche, Skoda, and Seat.
In 2021, Winterkorn reached a settlement with Volkswagen, agreeing to pay the company approximately 11 million euros (USD12 million) in damages related to the controversy.
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