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German prosecutors probe works council pay at Volkswagen
May 12, 2017 / 12:24 PM / 6 months ago

German prosecutors probe works council pay at Volkswagen

HAMBURG, May 12 (Reuters) - Volkswagen is being investigated for potential breach of fiduciary trust in connection with remuneration of works council members, the Braunschweig prosecutor’s office said on Friday.

“I can confirm that the Braunschweig prosecutor’s office currently has a case,” prosecutor Julia Meyer said in an emailed statement.

The prosecutor’s office declined to provide further details.

German legal portal Juve said the Braunschweig prosecutor’s office was probing whether labour chief Bernd Osterloh had for years received an inflated pay package, without citing sources.

Neither Osterloh nor Volkswagen were immediately available for comment.

In Germany, wasting corporate funds is a breach of fiduciary duty. (Reporting by Jan Schwartz; Writing by Edward Taylor; Editing by Maria Sheahan)

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