Reuters | Sep 30, 2020 10:00
MUNICH (Reuters) - Rupert Stadler, former chief executive of Audi (DE:NSUG) arrived in court in Munich on Wednesday to face fraud charges as part of Volkswagen's (DE:VOWG_p) emissions cheating scandal, which was uncovered by United States regulators five years ago.
Volkswagen and Audi were caught disguising excessive diesel pollution by using illegal engine management software to falsify emissions readings during anti-pollution tests.
The carmaker initially claimed the fraud was the work of a handful of engineers, and that no senior managers were involved, but testimony from a raft employees led prosecutors to remand Stadler in custody for four months in 2018.
He arrived in court in a Mercedes-Benz to face trial which is expected to take until 2022. Stadler is accused of knowingly selling cars which had manipulated engine software and did not comply with environmental standards.
Stadler has denied to charges.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.
More content, faster quotes and charts, and a smoother experience is available only on the App.