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It's been three and a half years since the diesel scandal at Volkswagen broke out, but its repercussions are still being felt. For the car maker become a green diviner, this usually comes with financial difficulties, plus the regurgitation required of a past that VW would like to see forgotten.
The latest transaction launched by VW on its emissions-cured cars comes from the US Securities and Exchange Commission, which is suing the company – along with its former CEO, Martin Winterkorn – for the "massive fraud" VW allegedly committed against investors.
The civil complaint, filed Thursday, says VW and its leaders should have informed investors that the company was about to be a huge success. Although the exact story of "who knew what and when," it is clear that the builder knew he had to count. The size of any of them is ready to be debated.
In the end, the fines, penalties and recalls cost VW more than $ 30 billion and turned it into a manufacturer that, this week again, promised 22 million electric vehicles on the road in a decade .
But the SEC is not worried about VW's ambitions and new personality in electric vehicles. She wants penances for the $ 13 billion of bonds and asset-backed securities the company issued in the US from April 2014 to May 2015.
Volkswagen "has reaped hundreds of millions of dollars in benefits by issuing securities at more attractive rates for the company," said the complaint to the SEC, according to the same source. Reuters. The regulator claims that VW "has repeatedly lied and misled US investors, consumers and regulators as part of an illegal ploy to sell its so-called" clean "cars, as well as billions of dollars. dollars in corporate bonds and other securities in the United States. "
The SEC also chooses Winterkorn. The former CEO, who hit the road a few days after the September 2015 scandal, was indicted by US prosecutors last year for his alleged role in violating the Clean Air Act with a fleet of polluting vehicles equipped of "defeat devices" in order to deceive the environment protection agency testers.
The suit seeks to bring together the "ill-gotten gains" of the German national, while imposing sanctions and preventing him from serving as a leader or director of a US company.
Of course, Volkswagen has none of this. He fought back against the SEC, saying the regulator's complaint was based on "legally and factually incorrect" information.
"The SEC has filed an unprecedented lawsuit regarding securities sold only to sophisticated investors who have not suffered any prejudice and have received all interest and principal payments in full and on time", said the automaker, adding that issuers of bonds had no way of knowing the company's vehicles were rolling out packages of illegality.
In addition to an expensive reminder and redemption program, VW was forced to pay $ 4.3 billion in fines in the United States.
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