BERLIN (Jan 27): German prosecutors are investigating former Volkswagen chief executive Martin Winterkorn on suspicion of fraud, looking into when he first knew that the carmaker was rigging diesel emissions tests. It is the second investigation into Winterkorn's role in the scandal by prosecutors in the German town of Braunschweig near Volkswagen's (VW) Wolfsburg headquarters. The number of people accused in connection with the emissions scandal had risen to 37 from 21, including Winterkorn. Winterkorn, 69, and the 36 other people are under investigation on suspicion of fraud and violating competition law, prosecutors said. Winterkorn ran VW for more than eight years and oversaw a doubling in sales and an almost tripling in profit.

Source: The Edge Markets January 27, 2017 18:13 UTC