Germany May Bring Charges Against Ex-Porsche Execs

German prosecutors will soon decide whether to bring criminal charges of market manipulation against Porsche AG former CEO Wendelin Wiedeking and ex-CFO Holger Haerter, according to Der Spiegel.

The decision would end a long-running investigation of Porsche's secretive acquisition of options controlling 75% of Volkswagen AG's stock in 2009 while publicly denying it had takeover plans.

The magazine, which does not cite its sources, says prosecutors have completed the probe and will present their findings to lawyers for the two executives. The two could face sentences of as much as five years in prison if convicted to breaching securities trading laws.

The €10 billion in debt that parent Porsche Automobil Holding SE took on to buy the options ultimately forced its sale to VW. The auto giant bought nearly half of Porsche AG in late 2009 and purchased the remainder last week.

Investors in Germany and the U.S. are suing Porsche SE for compensation for their losses on VW stock, which plunged when the holding company disclosed its controlling stake.