German prosecutors confirm investigation of VW chairman

[November 07, 2016]  HAMBURG (Reuters) - German prosecutors said on Monday they are probing Volkswagen supervisory board Chairman Hans Dieter Poetsch over suspected market manipulation related to the emissions scandal at the carmaker, confirming a VW statement.

Hans Dieter Poetsch, chairman of the Volkswagen AG supervisory board, addresses a news conference at the headquarters in Wolfsburg, Germany, April 22, 2016. REUTERS/Hannibal Hanschke
 

The investigation by prosecutors in Braunschweig focuses on whether Volkswagen (VW) in 2015 manipulated markets by delaying the release of information about the financial impact of its emissions test-cheating scandal.

VW on Sunday said a probe announced in June and targeting VW brand Chief Executive Herbert Diess and former group CEO Martin Winterkorn has been widened to include Poetsch, its former finance chief.

(Reporting by Jan Schwartz; Writing by Andreas Cremer; Editing by Christoph Steitz)

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