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German prosecutors probe bonus payments to suspended VW manager


Added 04-23-19 08:03:01am EST - “German prosecutors are investigating a possible breach of fiduciary duty by Volk...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “German prosecutors probe bonus payments to suspended VW manager”. Below is an excerpt from the article.

FRANKFURT (Reuters) - German prosecutors are investigating a possible breach of fiduciary duty by Volkswagen over bonus payments made to an executive who was suspended over the carmaker’s emissions cheating scandal.

Regulators blew the whistle on Volkswagen (VW) in 2015 after the German company was caught using software designed to cheat emissions tests on diesel engines.

VW has argued the cheating was the work of a handful of engineers who acted without the consent or knowledge of members of the management board, which at the time included VW’s current chief executive Herbert Diess and chairman Hans-Dieter Poetsch.

Prosecutors in Braunschweig, in VW’s home region of Lower Saxony, said on Tuesday they were now investigating why one VW manager received bonus payments while suspended. According to German paper Bild am Sonntag, the manager received 866,000 euros ($974,000) in bonuses between 2016 and 2018.

The manager is among five VW executives, including former chief executive Martin Winterkorn, to face criminal charges for conspiring to cover up the carmaker’s diesel emissions cheating scandal.

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