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VW Exec Offices Raided in Probe of Works Council Chief Osterloh
Tax and legal officials raided the offices of several top Volkswagen AG officials on Tuesday as they investigate possible payment and tax irregularities involving works council chief Bernd Osterloh.
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Tax and legal officials raided the offices of several top Volkswagen AG officials on Tuesday as they investigate possible payment and tax irregularities involving works council chief Bernd Osterloh.
VW says authorities targeted the offices of supervisory board Chairman Hans Dieter Poetsch and those of the group’s top executives for finance (Frank Witter) and human resources (Karlheinz Blessing).
Earlier reports indicated that prosecutors are investigating suspicions that VW paid Osterloh too much and that he evaded taxes on the higher income. In Germany, companies can be found in breach of their fiduciary duty if they overpay their executives.
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