Report: German prosecutors eye possible VW fines

Published July 08, 2016

A German newspaper and two broadcasters are reporting that prosecutors have opened proceedings that could result in Volkswagen being fined in Germany over its diesel emissions scandal.

The daily Sueddeutsche Zeitung, which reported together with broadcasters NDR and WDR, quoted Braunschweig prosecutor Klaus Ziehe as saying Friday: "We have opened fine proceedings against VW." He said that could include "recovering the economic advantage" VW might have gained by selling cars with software designed to cheat on emissions tests, according to the report.

The prosecutors were already investigating suspected fraud connected to the scandal. They're also investigating ex-CEO Martin Winterkorn and another unnamed executive over allegations they didn't inform investors soon enough about the scandal.

Prosecutors couldn't immediately be reached for comment. VW said it had no information and couldn't comment.

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