Nearly four years after the automaker admitted cheating on diesel emissions tests, and after Volkswagen has now spent more than 30 billion euros on fines, settlements and other costs, its diesel emissions scandal continues to take a toll.
Prosecutors in Germany on Wednesday charged four former employees, including one-time Audi Chief Executive Rupert Stadler, for their role in the scandal., faces allegations that include fraud for helping conceal the fact that VW had rigged its diesel engines to illegally pass emissions tests. Others caught up in the scandal include former Volkswagen CEO Martin Winterkorn who was charged in April for his alleged role in the cover-up.
Volkswagen Group CEO Martin Winterkorn arrives for the Volkswagen annual general shareholders' meeting on May 5, 2015 in Hanover, Germany.That triggered a tidal wave of legal headaches for the German carmaker, which rushed to work out settlements with U.S. and California regulators, as well as with owners and investors. That included, among other things:
Additional fines and settlements have so far brought the total cost of the scandal to around 30 billion Euros, or $33.4 billion at current exchange rates.And the financial cost could go higher. VW CEO Herbert Diess acknowledged in comments earlier this year that the scandal could drag on for "years." In May, the automaker set aside another 5.5 billion euros in contingent liabilities.
Emissions testing equipment sits in the exhaust of an Audi AG A5 diesel automobile at a garage in Bruchkoebel, Germany, July 26, 2017.Under the indictment announced Wednesday, German prosecutors said "Defendant Stadler is accused of having been aware of the manipulations since the end of September 2015 at the latest, but he did not prevent the sale of affected Audi and VW vehicles thereafter.
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