mo4ch:>Cash cow? After paying billions in fines Volkswagen accused by US stock regulator of ‘massive fraud’ | Mo4ch News
The US Securities and Exchange Commission (SEC) has filed a complaint against Volkswagen (VW), accusing the German automating giant and its former CEO Martin Winterkorn of defrauding US investors by cheating on emissions tests.The commission is charging the world’s second biggest car manufacturer of “reaping hundreds of millions of dollars in benefit by issuing the securities at more attractive rates for the company,” according to the document filed in San Francisco on Thursday.Volkswagen, Europe's largest automating concern, has called the step “legally and factually flawed,” vowing to “vigorously contest” the complaint.Also on rt.comFBI arrests ex-Volkswagen official on fraud charges in diesel emissions probe – report“Regrettably, more than two years after Volkswagen entered into a landmark, multibillion-dollar settlement in the United States with the Department of Justice, almost every state and nearly 600,000 consumers, the SEC is now piling on to try to extract more from the …