Senior Porsche Executive Arrested in Connection With Volkswagen Scandal
04-20-2018 | 12:32 PM
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Senior Porsche Executive Arrested in Connection With Volkswagen Scandal
https://www.wsj.com/articles/senior-...dal-1524234588
Peace
Bruce in Philly
Peace
Bruce in Philly
April 20, 2018 10:29 a.m. ET
The massive raids on offices and factories used by Porsche, which is owned by Volkswagen, involved 160 police officers and 30 investigators from two German states. The potential involvement of Porsche could represent a significant widening of the emissions-cheating scandal that has cost Volkswagen more than $25 billion in fines, penalties, compensation for customers and legal fees.BERLIN—German police arrested a senior Porsche AG executive in the wake of raids this week to gather evidence allegedly linking the sports car maker to Volkswagen AG’s emissions scandal, prosecutors said Friday.
As investigators were sifting through piles of documents, confiscating mobile phones and copying computer drives on Wednesday, prosecutors ordered the arrest of Jörg Kerner, Porsche’s head of engine development, who they considered a flight risk, according to people familiar with the situation. Mr. Kerner’s arrest was first reported by Bild am Sonntage, the German news weekly.The investigation also targets Michael Steiner, a Porsche board member in charge of research and development and a lower-level engineer who no longer works at the company, according to people familiar with the situation.
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