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VW emissions fraud inquiry widens to include supervisory board chief

German prosecutors suspect Hans Dieter Poetsch, former chief financial officer at Volkswagen, violated securities laws

Published Mon, Nov 7, 2016 · 09:50 PM
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Frankfurt

THE investigation into emissions fraud at Volkswagen (VW) reached the very top of the company on Sunday after the carmaker said the chairman of the supervisory board, Hans Dieter Poetsch, is suspected by German prosecutors of violating securities laws.

Mr Poetsch, the former chief financial officer (CFO) at VW, is accused of failing to notify shareholders quickly enough of the financial risks of the diesel emissions cheating scandal, which has already led to a US$15 billion settlement in the United States and caused the stock price to plunge.

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