As the car-making company, Volkswagen was involved in a car software scandal last year, the investigating prosecutors are now targeting one of the company’s board top members.
Volkswagen, the German giant automaker, was involved in a huge scandal last year after the group was accused of installing a software that would modify emission levels.
The accusation, which Volkswagen officially admitted as being true in September 2015, claimed that some 11 million diesel-powered vehicles were equipped with a faulty software.
The emission levels computers were said to have been modified so as to register and show a lower level of pollution, which would present it as cleaner and less damaging to the environment. This would, in turn, change the car’s status and tax levels and effectively cheat authorities.
Following the “dieselgate” scandal, as it was dubbed, a number of board members were put under investigation from the very first few days of the investigation.
Martin Winterkorn, former Volkswagen CEO, and another former member of the company’s board of command were put under investigation by the Brunswick, Germany prosecutors after they allegedly withheld information and impended the investigation.
Following this move, the car-maker company named Hans Dieter Poetsch, former chief financial officer as its supervisory board chairman.
Volkswagen announced on Sunday that the investigation is now targeting its board top, Poetsch, and his previous activity in the company.
Following the announcement, the company representatives also declared that Volkswagen will be backing its new board top as they stand by Poetsch.
According to the statement, the external and internal legal experts which analyzed the prosecuting claims seem to confirm the company opinion that the aforementioned board fulfilled its obligation in disclosing the needed information required by the German market laws.
The German law for capital market requires companies to disclose any and all information which might affect the respective market’s prices.
After more than a year after the dieselgate scandal was first brought to the public’s attention, Volkswagen is still involved in a number of trials and legal and financial problems.
One of the most recent lawsuits surrounding the dieselgate scandal was settled in the United States last month. The company won approval and will settle the compensation claims of nearly half a million polluting VG vehicle owners with a $14.7 billion sum.
This settlement will not, however, solve all of Volkswagen’s problems as the giant car maker still faces criminal allegation charges in a case with the United States, besides its other, various European lawsuits.
Volkswagen has stated that a sum of $18 billion will be directed towards paying the buybacks and refits of the affected vehicles, as well as the varied legal costs, but analysts predict a higher sum total.
The new investigation of the company’s top board members does not also spell good news for the company that has ever since been trying to make up for the dieselgate scandal.
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