Former Volkswagen Chief Executive Faces Trial in Emissions Case

Business|Former Volkswagen Chief Executive Faces Trial successful Emissions Case

Almost 9 years aft Volkswagen admitted that it had rigged millions of cars to cheat connected emissions tests, nan company’s erstwhile main executive went connected proceedings Tuesday connected charges stemming from nan fraud, a immense firm conspiracy that changed nan car industry.

Martin Winterkorn, 77, who led Volkswagen from 2007 until he resigned nether unit successful September 2015, appeared astatine a tribunal successful Braunschweig, Germany, aft a judge rejected his pleas to postpone nan proceedings because he said he was successful mediocre health. The proceedings will beryllium a trial of whether German authorities tin clasp apical executives accountable for wrongdoing that costs Volkswagen tens of billions of dollars and contributed to mediocre aerial value successful Europe and nan United States.

Mr. Winterkorn, who was erstwhile Germany’s highest-paid executive, faces criminal charges including fraud, marketplace manipulation and making mendacious statements. Prosecutors accused him of failing to notify authorities and owners of Volkswagen cars when, successful 2014, he became alert of package designed to illegally cloak emissions that exceeded limits imposed by European and U.S. regulators.

With Mr. Winterkorn’s knowledge, prosecutors said, Volkswagen continued to waste specified vehicles until nan cheating was exposed by California regulators and nan Environmental Protection Agency successful 2015. Over a decade, Volkswagen and its Audi, Skoda and Seat units sold 9 cardinal cars pinch nan illicit software.

Prosecutors person besides accused Mr. Winterkorn of authorizing a callback of nan affected vehicles successful 2014 pinch nan intent of preventing regulators from learning astir nan forbidden software. And he is accused of lying nether oath to a German parliamentary committee investigating nan cheating.

The marketplace manipulation complaint arises from allegations that Mr. Winterkorn grounded to notify Volkswagen shareholders of nan financial consequence posed by nan package arsenic required by securities law.