U.S. issues arrest warrant for former VW CEO but unlikely to face charges

Reuters 

By David Shepardson

As long as Winterkorn remains in Germany, the U.S. warrant is unlikely to have practical impact because does not extradite its citizens to the

Winterkorn, 70, a German citizen, was indicted in March on fraud and conspiracy charges, but the case was only unsealed on Thursday.

David Ashenfelter, a for the in Detroit, confirmed a warrant for Winterkorn's arrest was issued.

Nicole Navas Oxman, a Justice Department spokeswoman, said on Friday, "remains a fugitive." A declined to comment, except to reiterate that the company is still cooperating.

"We are surprised at the charge," a lawyer for Winterkorn, Felix Doerr, told German outlet

A grand jury in has indicted nine people in connection with the diesel emissions scandal. Two former executives have pleaded guilty and been sentenced prison terms, while a former of VW's unit, Giovanni Pamio, 61, an Italian citizen, has been charged and remains in pending extradition.

The remaining six, including Winterkorn, are believed to be in and are unlikely to face U.S. charges. Prosecutors in Germany are also investigating the emissions issue.

The September 2015 disclosure that intentionally cheated on emissions tests for at least six years using led to Winterkorn's ouster, damaged the company's reputation around the world and prompted massive bills.

In total, VW has agreed to spend more than $25 billion in the to address claims from owners, environmental regulators, states and dealers and offered to buy back about 500,000 polluting U.S. vehicles.

(Reporting by David Shepardson; Editing by Cynthia Osterman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 05 2018. 16:05 IST