Europe

German prosecutors open investigation of former VW CEO

  • FILE - In this June 24, 2015 file picture then Volkswagen CEO Martin Winterkorn arrives for a state dinner at Germany's  President Joachim Gauck's residence, Bellevue Palace, in Berlin. German prosecutors said Monday June 20, 2016  they have opened an investigation of former Volkswagen CEO Martin Winterkorn on allegations of market manipulation in connection with the company's scandal over cars rigged to cheat on U.S. diesel emissions tests.  (AP Photo/Markus Schreiber.File)

    FILE - In this June 24, 2015 file picture then Volkswagen CEO Martin Winterkorn arrives for a state dinner at Germany's President Joachim Gauck's residence, Bellevue Palace, in Berlin. German prosecutors said Monday June 20, 2016 they have opened an investigation of former Volkswagen CEO Martin Winterkorn on allegations of market manipulation in connection with the company's scandal over cars rigged to cheat on U.S. diesel emissions tests. (AP Photo/Markus Schreiber.File)  (The Associated Press)

  • FILE - In this Sept. 17, 2015  file picture then  Volkswagen CEO Martin Winterkorn waits prior a presentation at the IAA Frankfurt Auto Show in Frankfurt, Germany.  German prosecutors said Monday June 20, 2016  they have opened an investigation of former Volkswagen CEO Martin Winterkorn on allegations of market manipulation in connection with the company's scandal over cars rigged to cheat on U.S. diesel emissions tests.    (AP Photo/Jens Meyer)

    FILE - In this Sept. 17, 2015 file picture then Volkswagen CEO Martin Winterkorn waits prior a presentation at the IAA Frankfurt Auto Show in Frankfurt, Germany. German prosecutors said Monday June 20, 2016 they have opened an investigation of former Volkswagen CEO Martin Winterkorn on allegations of market manipulation in connection with the company's scandal over cars rigged to cheat on U.S. diesel emissions tests. (AP Photo/Jens Meyer)  (The Associated Press)

  • FILE  In this May 13, 2014 file picture then Volkswagen CEO , Martin Winterkorn, stands next to a VW car  at the annual shareholder meeting in Hannover, Germany.   German prosecutors said Monday June 20, 2016  they have opened an investigation of former Volkswagen CEO Martin Winterkorn on allegations of market manipulation in connection with the company's scandal over cars rigged to cheat on U.S. diesel emissions tests.  ( Julian Stratenschulte/dpa via AP,file)

    FILE In this May 13, 2014 file picture then Volkswagen CEO , Martin Winterkorn, stands next to a VW car at the annual shareholder meeting in Hannover, Germany. German prosecutors said Monday June 20, 2016 they have opened an investigation of former Volkswagen CEO Martin Winterkorn on allegations of market manipulation in connection with the company's scandal over cars rigged to cheat on U.S. diesel emissions tests. ( Julian Stratenschulte/dpa via AP,file)  (The Associated Press)

German prosecutors say they've opened an investigation of former Volkswagen CEO Martin Winterkorn on allegations of market manipulation in connection with the company's scandal over cars rigged to cheat on U.S. diesel emissions tests.

Braunschweig prosecutor's spokesman Matthias Diekman said in a statement Monday that Winterkorn and one other, unidentified, VW employee are being investigated on allegations they did not release information about the manipulation in a timely manner. They opened the investigation at the behest of Germany's Federal Financial Supervisory Authority.

Volkswagen did not answer telephone calls seeking comment.

Winterkorn stepped down as the scandal came to light, saying he was doing so "in the interests of the company even though I am not aware of any wrongdoing on my part."