Germany launches investigation into resigned Volkswagen CEO
German prosecutors opened a criminal probe into former Volkswagen CEO Martin Winterkorn on Monday, following the company's recent admission that it had installed software to cheat on emissions tests in roughly 11 million of its diesel cars. Winterkorn resigned from his post as CEO last Wednesday, though he maintained that "he was not aware of any wrongdoing on [his] part." He did, however, ultimately accept "responsibility for the irregularities that have been found."
Prosecutors plan to determine who is responsible and will hone in on accusations of fraud. Winterkorn was replaced as CEO on Friday by former Porsche executive Matthias Mueller.
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