• Nieuwsbrief

10 07 2017 02

FRANKFURT -- A Volkswagen manager told the then CEO and other managers that the carmaker's diesel-emissions violations could cost up to $18.5 billion, almost a month before investors were informed, German newspaper Bild am Sonntag reported.

Investors were told about VW's systematic emissions test cheating using illegal software on Sept. 18, 2015, when the EPA informed markets.

The Sunday newspaper Bild am Sonntag reported that Oliver Schmidt, a VW executive who was arrested in Miami in January this year, told the then-CEO Martin Winterkorn about possible financial implications at an Aug. 25, 2015 presentation.

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