By Nick Baum
MONDAY – 6/18/18
Just hours ago, Audi CEO and Chairman Rupert Sadler was arrested in Germany in an investigation into diesel and emissions of the cars made by Audi. In a press release, a spokesman for Volkswagen (Audi’s parent company) Nicolai Laude confirmed that Sadler was arrested, but declined to comment on the current investigation.
Sadler had been CEO of Audi since the start of 2010, and had been promoted to CEO in the midst of Volkswagen’s alleged cheating in different emissions tests. From 2008 to 2015, Volkswagen allegedly installed software in their cars to cheat during emissions testing, when in reality the cars were said to pollute up “10 to 40 times more” than other cars, said the Environmental Protection Agency (EPA), whom made the allegations Sept. 18, 2015.
The arrest had also come just a week after prosecutors searched Sadler’s home for any evidence, and also just days after Germany placed a $1.2 Billion dollar penalty on Volkswagen for their alleged cheating and software used during emissions testing. All ready, Volkswagen’s stock in the Frankfurt Stock Exchange had fallen by more than 2%.
Sources: Environmental Protection Agency, Flickr, CNBC, CNBC Explains, CNN Money, Wikipedia
