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EU anti-fraud office send Volkswagen investigation findings to German prosecutors

The European anti-fraud office examining if Volkswagen used EU funds and European Investment Bank (EIB) loans to make devices that cheated emission tests has sent its judicial suggestions to German prosecutors.

The automaker plunged into the biggest crisis in its 80-year history when the scandal was revealed in September 2015. It has cost the business over $25 billion in fines, settlement and vehicle refits.

European anti-fraud office OLAF stated it had investigated whether there was any connection between funds Volkswagen received and the production of engines or gadgets that could be utilized to control emission tests.

Volkswagen has rejected the idea of misusing the funds and stated they were used for their designated purpose.

“OLAF sent its final report and a judicial suggestion to the German nationwide authorities, specifically the general public district attorney’s workplace in Braunschweig, Germany, as well as an administrative suggestion to the European Investment Bank,” OLAF stated.

It included it had suggested the EIB review the execution of its anti-fraud policies. The bank was not available for instant comment.

In May 2016 it revealed that VW had actually paid back two 975-million-euro ($1.15 billion) loans prior the schedule.

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