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The Braunschweig public prosecutor today issued an administrative order against Volkswagen AG in its capacity as secondary party pursuant to sections 30 para. 1, 130 para. 1 of the German Act on Regulatory Offences in the context of the diesel crisis. The administrative order provides for a fine of €1 billion in total, consisting of the maximum penalty as legally provided for of €5 million and the disgorgement of economic benefits in the amount of €995 million.

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Nicolai Laude
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