
Zero-Down Home Financing: How it Really Works
Section: Business
In a significant ruling related to the Volkswagen diesel emissions scandal, two former executives of the automotive giant have been sentenced to several years in prison. This decision was announced by the Braunschweig District Court, which found four former managers and engineers guilty of fraud after a lengthy trial that spanned over four years.
The court imposed the harshest sentence on Jens Hadler, the former head of engine development, who received a prison term of four years and six months. Hanno J., the former head of the power electronics department, was sentenced to two years and seven months. Additionally, Thorsten D., who once led the department for work processes and exhaust treatment, received a suspended sentence of one year and ten months. The highest-ranking defendant, Heinz-Jakob Neußer, former head of development at VW, was also given a suspended sentence of one year and three months.
The complex legal proceedings began in the fall of 2021, during the COVID-19 pandemic. The court's deliberations were marked by intricate evidence collection, with numerous witnesses questioned about their involvement in the emissions manipulations. Many of these testimonies were incomplete or inconsistent, leading to challenges in establishing a clear account of events.
The court determined that Volkswagen had implemented two operational modes in its vehicles: one for emissions testing in laboratory conditions and another for real-world driving, which resulted in significantly higher emissions. The court concluded that the data presented to regulatory authorities did not meet legal requirements.
Notably, the former CEO of Volkswagen, Martin Winterkorn, was originally scheduled to stand trial alongside the executives. However, due to health issues, his case was separated from the others. Winterkorn's trial commenced last year but was halted after just a few sessions when he reportedly sustained injuries at home. The court has not yet announced future dates for his proceedings.
The total costs incurred by Volkswagen related to the emissions scandal have reached approximately EUR33 billion. Legal actions stemming from the scandal continue, with four additional criminal cases against a total of 31 defendants still pending. In a separate case in Munich, former Audi CEO Rupert Stadler and other accomplices entered a plea deal to expedite their proceedings, resulting in some of the first convictions in the emissions scandal.
The repercussions from this scandal continue to unfold, as the automotive industry grapples with the legacy of the emissions cheating scandal that has profoundly impacted public trust and regulatory scrutiny.
Section: Business
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