Breaking: SEC charges Volkswagen and former CEO Martin Winterkorn with defrauding U.S. investors over 'clean-diesel' claims
SEC says German auto maker raised billions of dollars while making deceptive claims about environmental impact of ‘clean diesel’ fleetThe U.S. Securities and Exchange Commission said it charged Volkswagen AG, two of its units, and former Chief Executive Martin Winterkorn with defrauding U.S. bond investors.
In a news release issued late Thursday, the SEC said the German auto maker raised billions of dollars through the corporate bond and fixed-income markets, while making a series of deceptive claims about the environmental impact of the company’s “clean diesel” fleet.
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