Volkswagen’s former CEO Martin Winterkorn charged with fraud

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"1">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>Former Volkswagen CEO Martin Winterkorn has been charged in Germany over the car manufacturer’s diesel emissions scandal&period;<&sol;p>&NewLine;<p>Prosecutors in Braunschweig say Mr Winterkorn failed to prevent the manipulation of engine software that let Volkswagen cars cheat on diesel emission tests&period;<&sol;p>&NewLine;<p>&lbrack;pull&lowbar;quote&lowbar;left&rsqb;READ MORE&colon; <a href&equals;"http&colon;&sol;&sol;londonglossy&period;com&sol;ex-volkswagen-ceo-knew-emissions-cheating-earlier-claimed&sol;">Volkswagen CEO informed of emission wrongdoing earlier than expected&period;<&sol;a>&lbrack;&sol;pull&lowbar;quote&lowbar;left&rsqb;<&sol;p>&NewLine;<p>They claim he knew about the deceptive software since at least May 25 2014&comma; despite his public statements he only became aware of the issue shortly before the scandal broke in September 2015&period;<&sol;p>&NewLine;<p>The prosecutors said Mr Winterkorn and four other defendants on fraud charges — all of them top Volkswagen managers — were part of an ongoing deception that started in 2006&period;<&sol;p>&NewLine;<p>The company has admitted installing software that could tell when the cars were on test stands for emissions certification&period;<&sol;p>&NewLine;<p>When the cars went on to everyday driving&comma; the emission controls were turned off&comma; improving mileage and performance but emitting far more than the US legal limit of nitrogen oxides&comma; a class of pollutant that is harmful to health&period;<&sol;p>&NewLine;<p>The prosecutors say that the defendants added a software update costing 23 million euro in 2014 in an attempt to cover up the true reason for the elevated pollution emissions during regular driving&period;<&sol;p>&NewLine;<p><&excl;--Ads1--><&sol;p>&NewLine;<p>Mr Winterkorn and the others face from six months to 10 years imprisonment if convicted on charges of aggravated fraud involving serious losses&period;<&sol;p>&NewLine;<p>Bonuses collected due to sales based on the deception could be forfeited&period; Prosecutors said bonus that could be forfeited ranged from around 300&comma;000 euro to 11 million euro &lpar;£258&comma;000 to £9&period;4 million&rpar;&period;<&sol;p>&NewLine;<p>Volkswagen has paid more than 27 billion euro in fines and settlements in the months and years since being caught&period;<&sol;p>&NewLine;<p>The company apologised and pleaded guilty to criminal charges in the United States&comma; where two executives were sentenced to prison and several others charged&comma; although they could not be extradited&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68cd195ece479">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; 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