This has long been against the German. carmaker investigating US 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 spokesman said on Wednesday only that the company continues cooperating with all relevant authorities. Also at home in Germany, prosecutors had gradually extended their investigations on possible new facts.
From the VW supervisory board circles there was initially no confirmation of the operation in the US. But consistently stated that it is ultimately not surprising that the US lawyers WOULD CHOOSE out all the stops. It is common practice that both sides prepared much ammunition for their argument chains, to cast them in a possibly pending settlement or process into the mix.
BANK LAW COULD DANGEROUS ARE
The application a normally foreseen for financial markets, US law might mean for the German Group with additional penalties. Investigators examine, according to the media report, 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.
WORKS CHIEF WARNED BEFORE CONSEQUENCES
council boss Bernd Osterloh had on Tuesday drastic at a staff meeting in VW ordinary Wolfsburg plant before warned consequences: “If the sustainability of Volkswagen by a penalty in far-off level being seriously jeopardized, will this also dramatic social consequences – not only to our US sites, but also in Europe and elsewhere.” in addition to the Justice Department to go more . US states and many plaintiffs against VW before
Lower Saxony Prime Minister and VW supervisory Stephan Weil (SPD) warned at the staff meeting: “We are in this year ever again with unpleasant news related to” diesel gate “confronted.” he did not give further details.
Unlike home is a plan for improvements to the approximately 600 000. manipulated US car not yet in the bag.
vARIOUS sITES
VW has diverse because of the crisis 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.
BAD NEWS FROM INDIA
Bad news for VW there were at Wednesday also from India. There, VW is confronted with allegations about fraud and predatory pricing. So the carmaker is incorrectly calculated within his company braid on the subcontinent sales and excise taxes and have thus vorbeigeschleust million at the Treasury. In addition to have squandered on a large scale to produce price VW cars. The Indian subsidiary of VW will tackle an array of tax authorities with additional payment, a spokesman for the company in Pune.
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