- The Braunschweig public prosecutor issues an administrative order against Volkswagen AG in the context of the diesel crisis and imposes a fine of €1 billion on Volkswagen AG
- Volkswagen accepts the fine and, by doing so, admits its responsibility
Administrative order imposing a fine being issued by the Braunschweig public prosecutor against Volkswagen in the context of the diesel crisis
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.