Stuttgart prosecutors continue market manipulation investigation
3 September 2009

Prosecutors in Stuttgart have raided another apartment in connection with a probe of Porsche employees into an alleged market manipulation of Volkswagen shares.

Material from the apartment was confiscated as part of the investigation, although the employee whose apartment was searched is not believed to be at management level.

An unnamed source close to the investigation said the prosecutors had taken a computer which contained information they were looking for.

A Porsche spokesman confirmed that the apartment had been searched. The search was as a result of information gathered at the last round of searches on 20 August.

Porsche has said that among the people being investigated are the former CEO Wendelin Wiedeking and former finance chief Holger Haerter.

Also being targeted is a bank in Frankfurt that has been executing trades on Porsche's behalf. Investigators are probing whether Porsche passed on insider information to a third party

Twitter - follow autocar.co.ukSee all the latest Porsche reviews, news and video

Join the debate

Comments
1

3 September 2009

An odd state of affairs.

Clearly the authorities must do their job as regulatory bodies...but it would be a strange result if that affected one of the motoring industry's most respected marques.

____________________

www.iamnotthestig.com

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Skoda-Karoq 2.0 TDI 4x4
    First Drive
    16 October 2017
    Diesel version of Skoda’s junior SUV is unobtrusive and undemanding, but we’d still go for the silkier petrol version of the Karoq
  • Audi Q7 e-tron
    First Drive
    16 October 2017
    Expensive and flawed but this understated diesel-electric Audi Q7 has a lot to offer
  • Citroën C3
    First Drive
    16 October 2017
    Is the third gen Citroën C3 ‘fresh and different’ enough to take on its supermini rivals? We spend six months with one to find out
  • BMW X3
    First Drive
    15 October 2017
    A satisfying rework of the X3 that usefully improves its handling, cabin finish, space and connectivity to make this BMW a class front-runner again
  • Vauxhall Insignia Country Tourer
    First Drive
    13 October 2017
    Off-road estate is now bigger, more spacious and available with torque-vectoring all-wheel drive, but is it enough to make its German rivals anxious?