Porsche’s former CEO Wendelin Wiedeking and former CFO Holger Haerter are being investigated for possible market manipulation in Volkswagen shares, reports Reuters. Prosecutors raided the company’s office headquarters and financial regulator Bafin filed charges with Stuttgart prosecutors. “Porsche rejects the accusations that have been raised,” the company said, adding it was cooperating fully with authorities. In May, Bafin said that it had started an investigation into possible market manipulation by Porsche linked to its attempt to take over carmaker Volkswagen.
Porsche Ex-CEO, CFO Offices Raided
German prosecutors raided the offices of Porsche’s former CEO and CFO.
August 20, 2009