The US securities and Exchange Commission ( SEC ) is investigating Volkswagen and its former CEO , Martin Winterkorn , for perpetrating fraud against investors amid the so - called dieselgate scandal . The regulator claims the regulator misled investors in order to achieve financial advantage , when it issued bonds and asset - backed securities despite the knowledge that over 500,000 of its diesel vehicles exceeded legal emissions limits . Volkswagen has described the regulator ’s case as being without merit .
The US Securities and Exchange Commission (SEC) is suing Volkswagen and its former CEO, Martin Winterkorn, for perpetrating fraud against investors amid the so-called dieselgate scandal. The regulator claims the company misled investors in order to achieve financial advantage, when it issued bonds and asset-backed securities despite the knowledge that over 500,000 of its diesel vehicles exceeded legal emissions caps. Volkswagen has described the SEC’s case as being without merit.