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Tag: indicted

Ex-VW boss indicted on ‘dieselgate’ fraud charges

Ex-VW boss indicted on ‘dieselgate’ fraud charges

Business
By Wale Azeez, business reporter Volkswagen's former boss and four others have been indicted on charges of fraud and unfair competition over the firm's efforts to cheat diesel emission tests.Martin Winterkorn faces four charges, with prosecutors saying he failed to prevent the manipulation of Volkswagen engines that enabled the cars to falsify results. Mr Winterkorn led the German car maker in 2015 when it was revealed it had installed software to manipulate emissions results as far back as 2009.German prosecutors said on Monday that Mr Winterkorn knew about the software since at least 25 May 2014, despite public statements that he only became aware just before the scandal broke in September the following year.If convicted, he and the others accused face betwe...
Ex-Nissan Chairman Carlos Ghosen indicted for breach of trust

Ex-Nissan Chairman Carlos Ghosen indicted for breach of trust

World
Jan. 11 (UPI) -- Former Nissan Motors Co. Chairman Carlos Ghosn was indicted on new financial charges Friday in a Tokyo court. Ghosn, 64, was charged with aggravated breach of trust for allegedly transferring $ 17 million in personal investment losses to Nissan in 2008 as well understating his compensation by $ 37 million for three years through March 2018, the Nikkei Asian Review reported. Last month, he was indicted for underreporting his pay by around $ 46 million between 2010 and 2015. Ghosn has been in jail since his arrest on Nov. 19 at Tokyo's Haneda airport. Nissan dismissed Ghosn as chairman shortly after his arrest, but he remains chairman and CEO of Renault, which is the largest shareholder and partner of Nissan. The French company has assigned his duties to other executives. ...