Former Porsche CFO Guilty of Fraud: Court Finds

Former Porsche CFO Guilty of Fraud: Court Finds

Former Porsche Chief Financial Officer Holger Haerter was convicted of fraud in a Berlin court today.

The court found him guilty of providing false information during the German automaker’s bid to buy Volkswagen. He is being slapped with unspecified fines. Prosecutors wanted him to serve a jail sentence. Haerter rejected the charges and he defense fought for an acquittal.

He, along with former Porsche CEO Wendelin Wiedeking have been charged with market manipulation tied to the  failed purchase of Volkswagen.

[Source: The Detroit News]

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