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Dieselgate: two bosses of Volkswagen is entering into an agreement for 9 million euros

Herbert Diess, president and CEO of Volkswagen since April 2018, and the chairman of the supervisory board, Hans Dieter Pötsch will thus avoid the trial. the t

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Dieselgate: two bosses of Volkswagen is entering into an agreement for 9 million euros

Herbert Diess, president and CEO of Volkswagen since April 2018, and the chairman of the supervisory board, Hans Dieter Pötsch will thus avoid the trial.

the trial will not take place. The two most senior officers of the Volkswagen group, returned in September 2019, for manipulation of the financial markets in the framework of the "dieselgate", Herbert Diess, president and CEO of Volkswagen since April 2018, and the chairman of the supervisory board, Hans Dieter Pötsch, will eventually avoid a trial after a deal of 9 million euros with the attorney of Brunswick (north).

"The supervisory board welcomes the end of the procedure", said Tuesday evening a spokesman for the group, confirming the agreement. Volkswagen will take over the payment of € 4.5 million by respondent, because he has not identified "breaches of the duties owed to the company by two officers, accused of having informed too late of the investors of the fraud on the diesel cars, added the source.

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It is only one of multiple procedures related to this scandal sprawling. It had erupted in September 2015, when Volkswagen had admitted to having rigged 11 million vehicles with a software that can make them appear less pollutants when tested in the laboratory and on the road, a revelation that had pushed the share price of the VW Stock.

For the group, the criminal investigation against its current leadership, was one of the most delicate : it was in particular to determine at what point the board had been informed of the cheating and the associated risks. "When returning in September 2019 as of today, the legal advisers and representatives of the company believe that the charges against Mr. Pötsch and Mr. Diess are without merit," said the group in a press release. "It is in the interest of the company to terminate these procedures."

30 billion euros

Herbert Diess was the head of the flagship brand VW and Hans Dieter Pötsch finance director on 18 September 2015, when revelations that u.s. authorities had plunged the German automotive industry, a pillar of the economy of the country, in a crisis unprecedented, which continues until today. Volkswagen has always maintained that the board had not been aware of the full extent of the legal and financial risk, at this moment, and has therefore complied with its obligations of financial communication.

READ ALSO >> A year after the Dieselgate, Volkswagen on the path of redemption?

investors are still compensated in the framework of a procedure grouped to open in September 2018. But the end of the criminal investigation comes to reinforce the defense of the group in this folder.

"dieselgate" has already cost more than 30 billion euros to the German manufacturer, which has been trying for burnish his image by focusing on the electric car. The bulk of this amount (legal fees, fines and damages) to date has been spent in the United States, particularly in compensating their generous customers for the recovery of their vehicles. In Germany, the manufacturer has paid three fines for a total of 2.3 billion euros.

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VIDEO. Volkswagen has offered 830 million euros to settle a lawsuit grouped German Canada : Volkswagen sentenced to a fine of 135 million euros Dieselgate : Volkswagen starts an amicable agreement with his clients in Germany

at the End of April, another element of the scandal-drawer is closed : Volkswagen will pay at least 750 million euros to repay 235 000 customers grouped in a trial without precedent in Germany, similar to a "class action" in the u.s., under an amicable agreement.

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