Two top drivers of Volkswagen made a deal on Wednesday in a German lawsuit about the cheating diesel affair, with which the two prevent prosecution.
CEO Herbert Diess and chairman of the supervisory board Hans Dieter Pötsch both pay 4.5 million euros. By reaching a settlement, the top executives evade prosecution for manipulating share prices by late reporting an American investigation into Volkswagen’s cheating software to investors. The automaker admitted five years ago that it had used the so-called cheating software, which caused diesel car emissions to be lower in tests than was actually the case.
The two top executives do not have to pay the bill themselves. Volkswagen has announced to pick up the receipt, because according to the German manufacturer, the two have not violated company rules. The case against Martin Winterkorn, who was Volkswagen’s top executive at the time of the diesel scandal, is still ongoing. Winterkorn has been accused, among other things, of fraud and market manipulation.