AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

BERLIN: A German court said Thursday it would resume the trial of former Volkswagen boss Martin Winterkorn for market manipulation, due to the indefinite suspension of parallel proceedings on fraud charges.

Winterkorn was set to be tried for fraud for his role in the “dieselgate” emissions-cheating scandal, along with other managers from the automotive group.

But the trial in Brunswick, close to VW’s headquarters in Wolfsburg, began in September 2021 without the former VW boss, who was deemed too unwell to appear in court following an operation.

The same Brunswick court had provisionally dropped a market manipulation case in January 2021 on the basis that the likely punishment was negligible compared with the potential fraud penalty.

But the court on Thursday said proceedings had been revived at the request of the Brunswick public prosecutor’s office because “it has not yet been possible to try the defendant” on the fraud charges.

The outcome of the market manipulation case could also “have an impact” on the fraud proceedings in addition to any possible punishment, the court said.

Under the reinstated charges, Winterkorn is accused of having intentionally failed to inform financial markets in time of the risk of a fine due to emissions-cheating vehicles on the US market. A date for the opening of the market manipulation trial had not yet been set, the court said.

The Volkswagen group was plunged into crisis in 2015 when it admitted to installing cheating software in millions of diesel vehicles worldwide to dupe pollution tests.

The first senior executive to be convicted over dieselgate was Rupert Stadler, former CEO of VW subsidiary Audi, who received a suspended sentence and a fine earlier this year on fraud charges.

Comments

Comments are closed.