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Media reports ex-VW chief Martin Winterkorn could lose fortune over Dieselgate
http://www.dw.com/en/media-reports-ex-vw-chief-martin-winterkorn-could-lose-fortune-over-dieselgate/a-43674220Media reports ex-VW chief Martin Winterkorn could lose fortune over Dieselgate
Former Volkswagen (VW) CEO Martin Winterkorn could lose the personal fortune he accumulated throughout his tenure at the German automaker, reported the Frankfurter Allgemeine Zeitung newspaper on Sunday, citing VW officials. The VW Group is investigating whether Winterkorn could be responsible for the billions of euros paid out in damages, Hans Dieter Pötsch, who sits as chairman of the carmaker's supervisory board, told the Frankfurt-based newspaper.
According to experts cited in the report, Winterkorn could be held responsible and have to forfeit VW earnings as well as his pension, which amounts to more than an estimated €100 million ($120 million). However, such penalties would likely only be applied in extreme cases, according to the report. A spokesperson for the German public prosecutor's office told FAZ that before VW could go after Winterkorn for damages, criminal investigations would have to be completed.
US prosecutors on Friday issued an arrest warrant for Winterkorn, saying he knew about software installed on VW diesel vehicles that would allow them to cheat emissions tests. According to the indictment, Winterkorn was informed twice that the company had cheated US emissions tests — once in May 2014 and again in July 2015 – before the scandal became public in September 2015
US Attorney General Jeff Sessions said last week that the charges showed "Volkswagen's scheme to cheat its legal requirements went all the way to the top of the company." However, it is unlikely that Winterkorn would be extradited to the US since Berlin upholds a policy that does not permit its citizens to be sent abroad for prosecution.
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