German Investigators Raid VW HQ Over Executive Pay

Volkswagen Group said it obeyed the law in the payment of its works council chief, Bernd Osterloh, whose office was raided by prosecutors and tax authorities, along with those of the company's chairman, finance chief and head of personnel.

The raid was related to suspicions of overpayments and related tax evasion. That is because over-remuneration could result in overly high operating expenses and the payment of too little tax.

On Tuesday, investigators searched the offices of supervisory board chairman Hans Dieter Poetsch, finance chief Frank Witter, and human resources head Karlheinz Blessing, along with Osterloh's. Files and computers were seized.

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PUGPROUD - 11/15/2017 4:14:49 PM

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