May 21, 2020—A German court is ending proceedings against the chairman and chief executive of Volkswagen, reported Reuters.
The executive agreed to pay a fine of $9.9 million over the diesel emissions scandal. The automaker in September 2015 admitted using illegal software to cheat U.S. diesel engine tests, battering its share price.
Back in 2016, Matthias Mueller, Volkswagen chief executive officer at the time, said that the automaker’s diesel emissions scandal will inflict substantial financial damage on the company. The scandal over engine control devices that mask excessive nitrogen oxide emissions has so far cost Volkswagen more than 30 billion euros in damages and regulatory fines.
According to the report, the court said the case against Martin Winterkorn, who was CEO at the time of the scandal, is still pending on charges of fraud and other offences.
