Volkswagen CEO Herbert Diess and the company’s chairman, Hans Dieter Pötsch, were charged by German prosecutors on Tuesday with market manipulation tied to the carmaker’s diesel emissions scandal.
The two executives are accused of failing to disclose the huge financial risks of the diesel scandal to shareholders in a timely fashion.
Martin Winterkorn, the former CEO of Volkswagen, was also charged by prosecutors.
It’s the latest fallout from Volkswagen’s bombshell admission in 2015 that it had rigged millions of diesel cars worldwide to cheat on emissions tests, a scandal that has cost the company more than $30 billion.
