Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 10-day trial to continue exploring with full access.

VW enters a new penalty phase

Tom Fox | August 6, 2017

The Man From FCPA might well have expected Volkswagen to have some more good news, as the company continues to distance itself from the emissions-testing scandal. That good news for the company, however, may be yet delayed a bit longer as reports have recently appeared about a new twist on the emissions-testing scandal. This new phase of the scandal may portend longer, deeper, and even more structural issues than have been seen to-date.

In July, the European Union’s antifraud office, OLAF, announced it was recommending criminal charges against at least two company officials over loans the European Investment Bank (EIB) gave to VW to promote its (fraudulent) claims of positive environmental performance around the company’s deiseal auto fleet. The allegations are over some €400 million in loan guarantees. Not surprisingly, when the loans were originally made, there was no information... To get the full story, subscribe now.