The Securities and Exchange Commission charged Volkswagen AG, two of its subsidiaries, and its former CEO Martin Winterkorn for defrauding U.S. investors, raising billions of dollars through corporate bond and fixed income markets and making a series of deceptive claims about the environmental impact of the company’s “clean diesel” fleet, it says in statement.
From April 2014 to May 2015, Volkswagen issued more than $13 billion in bonds and asset-backed securities in the U.S. markets at a time when senior executives knew that more than 500,000 vehicles in the United States grossly exceeded legal vehicle emissions limits, exposing the company ...
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