Porsche-process comes to the files: Wiedeking acquittal is final – n-tv.de NEWS

 Economy
 

 Thursday, July 28, 2016

 
 
 

 
 The former Porsche executives Wendelin Wiedeking and Holger Härter can breathe easy: My acquittal is now legally binding. The prosecution withdrew the revision. Former Porsche CEO responds facilitated.
 

 
 

The criminal case against former Porsche CEO Wendelin Wiedeking and his chief financial officer Holger Härter has been placed definitively shelved. The Stuttgart public prosecutor announced that they would withdraw the revision – due to lack of success. After the acquittal in March, the Authority had lodged from more formal reasons Revision. After examining the written judgment they will not pursue its way to the Bundesgerichtshof (BGH) now.

In addition, the family holding company of the Porsche and Piëch, VW majority shareholder Porsche SE must no longer be fined. The prosecution had demanded a fine of 807 million euros for the co-defendant Holding.

In the outrageous methods both once glitzy industry Stars were on suspicion of market manipulation in court. They were accused of having hidden their true plans the VW takeover attempt in 2008 with press releases and announcements, thereby manipulating the VW share price.

In the former hot phase of the later failed takeover attempt of Volkswagen price fluctuated greatly, investors lost billions of dollars. Representatives of hedge funds therefore claim damages, separate civil actions in Lower Saxony continue to run.

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The prosecutor had in the whole process in a difficult position. None of the numerous witnesses confirmed the allegations. Nevertheless, prosecutors remained convinced that Wiedeking and Härter were guilty and demanded in their closing arguments even imprisonment of two years for the two defendants. Wiedeking and Härter had always maintained her innocence. The acquittal in March then was like a slap in the face for his accuser. . On the allegations was “nothing in it, nothing – neither forward nor back, even in the middle,” said the presiding judge Frank Maurer

Wiedeking was pleased with this decision: “Against me is almost seven years . been determined with an incredibly high effort The hearing before the District court and a comprehensive in every sense of inquiry there have shown that in all these reproaches nothing – absolutely nothing – off was “Wiedeking sent word through a spokesman. The judgment of the district court was clear. “I am happy and relieved that this process has now found its final conclusion,” he said.

  Source: n-tv.de
 

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