Volkswagen CEO Herbert Diess was informed about the existence of cheating software in vehicles two months before it was revealed, German magazine Der Spiegel stated.
Der Spiegel’s story, based on unsealed documents recently released from the Braunschweig prosecutor’s office, raises concerns about whether the automaker informed investors in a timely manner regarding the scope of a scandal which it said has cost it over $27 billion in penalties and fines.
The Braunschweig prosecutor’s office could not be reached for comment on Saturday.
Volkswagen’s senior management, which has rejected wrongdoing, is being probed by prosecutors in Braunschweig, near where Volkswagen is headquartered, to observe whether the company violated disclosure regulations.
U.S. regulators revealed the automaker’s cheating on September 18, 2015.
Replying to the magazine report, the automaker reiterated on Saturday that the management board had not breached its disclosure duties, and had decided to not tell investors earlier as they had failed to grasp the scope of the possible fines and penalties.
Citing documents unsealed by the Braunschweig prosecutor’s office, Der Spiegel stated Diess was present at a meeting on July 27, 2015 when senior engineers and executives talked about how to deal with U.S. regulators, who were threatening to prohibit Volkswagen cars due to excessive pollution levels.
Diess, who was VW’s brand chief in those days, became chief executive of Volkswagen Group in April 2018.
