Germany is tackling former CEO Volkswagen very hard

Germany CEO

Martin Winterkorn may have to go into the Knast.

Dieselgate is a vague reminder of better times for most of us, but certainly in Germany the matter continues to fester. Although the Volkswagen top has bought off prosecution for Herbert Diess and former CFO Hans Dieter Pötsch for 4.5 million euros each, the German justice is not yet ready to deal with the issue. The honcho that held sway when all the shoddy took place seems to be the big head of Jut.

Good pension

Martin Winterkorn, once the brightest light (or at least the highest earning) of all the CEOs of the companies listed on the DAX, fell off his pedestal when dieselgate ‘came out’. The loss of face was of course sour for the CEO, but we didn’t seem to have to worry about anything else Der Martin. As a thank you for services rendered, he received 1.7 million euros and was allowed to keep his pension of 93,000 euros per month.

Warm feet

Yet it may still be warm under the feet of Winterkorn, Heise reports. In addition to the cases that were already going on against the fallen high flyer, market manipulation is now also being thrown at him. After all, Winterkorn would have withheld information to investors about the dark cloud that hung above the group. When the fraud finally got out, the Volkswagen stock price collapsed.

Winterkorn’s lawyer claims that the relevant information about the fraud never reached Winterkorn. The prosecution and the local court, however, dismiss that defense. So to be continued. Literally and figuratively.

Comments


  1. marcomanta says

    What is a tough approach in this, 8 Monate im Knast und weiter leben wie Gott in Frankreich? It is strange that 1 person is put forward for this, it seems to me that there have been more people who have contributed to the situation in which the company is now, or am I wrong. Oh yes, all his assets will be placed under guardianship, I am curious.


  2. Pascal says

    Lock up those cheat boys!

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