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German court reopens market manipulation probe into former VW chief

Reuters
·1-min read
Former Volkswagen CEO Winterkorn leaves after testifying to a parliamentary committee on the carmaker's emissions scandal in Berlin

BERLIN (Reuters) - German authorities have reopened a criminal investigation into Martin Winterkorn, chairman of Volkswagen until he was toppled by the 2015 emissions-rigging scandal, over suspected market manipulation, a regional court said on Thursday.

Criminal proceedings were resumed at the request of prosecutors, the court in the city of Braunschweig said in a statement.

In an indictment filed in 2019, Winterkorn was accused of not informing the capital market in a timely manner of the installation of defeat devices in the diesel engines of Volkswagen cars, as required by law.

The court had halted the market manipulation proceedings in January 2021, saying that another case against Winterkorn over his role in the scandal carried a higher penalty.

(Writing by Rachel More; Editing by Miranda Murray)