Ex CFO (CFO) of Porsche, Holger Haerter, sentenced for fraud deception against the French bank BNP Paribas, as with the old CEO of Porsche, Wendelin Wiedeking, in 2008 tried to cheat investors by giving the bank false data into negotiations to grant a loan of 10 million EUR.
The criminal court of Stuttgart sentenced Haerter, who have contributed significantly to the preparation and the submission of-unsuccessful-bid for the takeover of Volkswagen, to pay 180 daily doses of 3,500 EUR because he did incomplete and untrue statements about the value of derivatives on VW shares that then the Porsche. So the total fine amounts to 630,000 EUR.
Prosecutors in Stuttgart, where the seat Porsche, had sought to impose on Haerter penalty of 3 years imprisonment with suspension and a fine of 1 million EUR. The advocates of the former member of the famous automobile demanded be acquitted.
Accordance with the submitted representatives of the French bank’s lawsuit, BNP is not misled. The failed takeover attempt of Volkswagen led to a series of legal disputes, many of which are sub judice .
Investment funds claiming billion for losses from the Porsche, saying they were misled by this industry on its intentions for the acquisition of Volkswagen in 2008. Prosecutors have brought charges against both the former CEO of the first, Wendelin Wiedeking, and Haerter for attempted market manipulation related to market shares of VW.
The listed Porsche SE had sold the unit to build sports cars for VW that year. In Porsche SE still owned a 50.7% non-preferred shares of Volkswagen.