Continent Former AG chief financial officer Wolfgang Schaefer, who abruptly terminated his contract this week, and two other former executives are among 61 suspects German prosecutors are investigating over a public role company in the case diesel oil Scandal.
Oliver Eisenhauer, a spokesman for Hanover prosecutors, said the investigation into Schaefer, as well as former members Elmar Degenhart and Jose Avila, has now been turned into a criminal case based on allegations of support fraud and breach of trust, Oliver Eisenhauer, a spokesman for Hanover prosecutors, confirmed to media earlier. report.
Continental did not immediately respond to a call seeking comment. Bloomberg was unable to contact the three former executives.
The overall investigation into the German auto car supplier’s role in the diesel cheating scandal continues to rock the automaker. Volkswagen CHILDHOODS. Before that, three executives and two other senior managers were placed on probation only for not properly supervising employees, which was just an administrative violation. Eisenhauer said the investigation could now also lead to financial sanctions against the company by seizing illegal profits it may have earned.
The move comes after a fresh sweep last week at the Frankfurt-based Continental’s compliance department and the home of a former employee in the unit. According to Eisenhauer, prosecutors also seized documents from a law firm that conducted an internal investigation, which may have had serious shortcomings.
German prosecutors have raided Continental’s facilities several times in recent years following allegations that the Hanover-based manufacturer helped VW cheat emissions tests. Continental supplies the technology for VW’s 1.6-liter diesel engine used in cars across Europe. Engine control software for the 2.0-liter engine at the heart of the VW scandal – also used in the US – came from Continental rival Robert Bosch GmbH.
