Secretly, Mr Harter had instructed six investment banks to each buy options on 4.99pc of VW shares to bring Porsche's stake up from 35pc to the magic 75pc level. Now he allowed the banks to lend this stock too to make even more money from the hedge funds. It has been speculated that, as the hedge funds piled in, he foresaw the opportunity of cornering the short-sellers, therefore being able to name his price to settle and force billions out of them, but there is no evidence of this.