Wednesday, March 9, 2016

Auto: Report: US-wide VW investigation of – ABC Online

Wednesday , 03.09.2016, 09:21
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VW needs at Always more legal fronts with the consequences of the exhaust affair deal. According to reports, it is in the US also possible bank fraud. In Europe, since it is eating also continue.

The exhaust scandal threatens for Volkswagen in the USA to a growing hotspot grow out.

The already prolonged proceedings relating to the carmaker Justice Department have his investigations now been extended to the suspicion of bank fraud and possible violations of tax laws, reported the “Wall Street Journal” on Tuesday (local time), citing sources inaugurated. Furthermore, considering a subsidiary of the insurance group Allianz, to participate in a class action suit against VW because of diesel affair.

For the impending expansion of investigations in the United States, a spokesman for the Justice Department in Washington to demand declined to comment , A VW spokeswoman said only that the company will continue to cooperate with all relevant authorities.

The use of an actually provided for the financial sector law could mean for the German Group with additional penalties. Investigators examine the report says, if lenders were vulnerable to manipulation by VW in car financing. Affected vehicles with excessive emission levels were initially marketed as environmentally friendly and have lost the affair considerable value. In addition to investigating whether VW is liable for tax credits that US car buyers have received for the supposedly low exhaust emissions.

Volkswagen had granted in September 2015 in accordance with allegations of US Environmental Protection Agency, hundreds of thousands of diesel cars in the United States to have a fraud software equipped to Austricksen of emission tests. The group threatened by a civil action the government there already a penalty in the tens of billions

council boss Bernd Osterloh had warned on Tuesday at a joint meeting in VW ordinary Wolfsburg plant before drastic consequences. “If the sustainability of Volkswagen by a penalty in far-off level being seriously jeopardized, this will have dramatic social consequences – not only to our US sites, but also in Europe and elsewhere, “in addition to the Justice Department to go before several US states and many plaintiffs against VW. ‘. / p>

Unlike home is a plan for improvements to the approximately 600 000. manipulated US car also not yet signed and sealed. Worldwide, more than eleven million vehicles are affected by the diesel scandal. In Germany, for several weeks running first recalls.

VW has because of the crisis diverse legal construction, it threatens billion cost. So sue shareholders because VW has reportedly informed too late about the exhaust scandal. A spokesman for the Alliance’s subsidiary asset management Allianz Global Investors (AGI) said on Wednesday in Frankfurt, one must consider “whether our investors have been harmed and we then take steps accordingly.” He thus confirmed media reports. The AGI holds 0.06 percent stake in the Wolfsburg-based carmaker. According to reports, other funds on possible joint action are involved. VW dismisses the accusations.

As the “Rheinische Post” (Wednesday) writes, do also in Europe increasingly VW customers for a major action against the carmaker together. The lawyer Julius Reiter told the newspaper that the number of participants has increased from 60 000 to about 80 000 in January – including especially many car owners from Austria. Because there are no formal class actions such as in the United States in Germany, the process proceeds via a sitting in the Netherlands Foundation.


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