Former Volkswagen (VW) CEO Martin Winterkorn could lose the personal fortune he accumulated throughout his tenure at the German automaker, reported the Frankfurter Allgemeine Zeitung newspaper on Sunday, citing VW officials.

The VW Group is investigating whether Winterkorn could be responsible for the billions of euros paid out in damages, Hans Dieter Pötsch, who sits as chairman of the carmaker's supervisory board, told the Frankfurt-based newspaper.

Read more: Opinion: VW's Martin Winterkorn must come clean

Martin Winterkorn served as CEO of VW when the software was installed on millions of vehicles. According to US prosecutors, he knew even knew about it

According to experts cited in the report, Winterkorn could be held responsible and have to forfeit VW earnings as well as his pension, which amounts to more than an estimated €100 million ($120 million). However, such penalties would likely only be applied in extreme cases, according to the report.

A spokesperson for the German public prosecutor's office told FAZ that before VW could go after Winterkorn for damages, criminal investigations would have to be completed.

'Top of the company'

US prosecutors on Friday issued an arrest warrant for Winterkorn, saying he knew about software installed on VW diesel vehicles that would allow them to cheat emissions tests.

According to the indictment, Winterkorn was informed twice that the company had cheated US emissions tests — once in May 2014 and again in July 2015 – before the scandal became public in September 2015.

Read more: From VW to Julian Assange: How does extradition work?

US Attorney General Jeff Sessions said last week that the charges showed "Volkswagen's scheme to cheat its legal requirements went all the way to the top of the company."

However, it is unlikely that Winterkorn would be extradited to the US since Berlin upholds a policy that does not permit its citizens to be sent abroad for prosecution.

Dieselgate: A timeline The disaster unfolds — September 2015 About two weeks after Volkswagen admitted behind closed doors to US environmental regulators that it had installed cheating software in some 11 million of its diesel vehicles worldwide, the Environmental Protection Agency shared that information with the public. It was September 18, 2015. The ensuing crisis would eventually take a few unexpected turns.

Dieselgate: A timeline The boss must go, long live the boss — September 2015 Volkswagen's then-CEO Martin Winterkorn (above) had little choice but to step down several days after news of the scandal broke. In September 2015, he tendered his resignation, but retained his other posts within the Volkswagen Group. Winterkorn's successor was Matthias Müller. Until taking the reins at VW, Müller had been the chairman at Porsche, a VW subsidiary.

Dieselgate: A timeline Raiding headquarters — October 2015 Regulators in the US weren't the only ones investigating VW. Authorities in Lower Saxony, the German state in which VW is based, were also scrutinizing the company. On October 8 2015, state prosecutors raided VW's headquarters along with several other corporate locations.

Dieselgate: A timeline Hell breaks loose — January 2016 On January 4, 2016, the US government filed a lawsuit against VW in Detroit, accusing the German automaker of fraud and violations of American climate protection regulations. The lawsuit sought up to $46 billion for violations of the Clean Air Act.

Dieselgate: A timeline Quit or forced out? — March 2016 In March 2016, the head of VW in the US, Michael Horn, resigned. In the initial days and weeks after the scandal broke, he was the one US authorities turned to for information. He issued an official apology on behalf of the automaker, asking for the public's forgiveness.

Dieselgate: A timeline Settlement — October 2016 On October 25 2016, a US judge approved a final settlement that would have VW pay $15.3 billion. In addition, affected cars would be retrofitted with better, non-deceptive hardware and software, or else VW would buy them back completely from customers.

Dieselgate: A timeline Imitators — July 2017 When dieselgate first emerged in 2015, analysts said it was likely other car makers were also cheating tests. But it wasn't until 2017 that other companies were targeted in probes. In July, German authorities launched investigations into luxury car makers Porsche and Daimler for allegedly cheating emissions tests. Others, such as Audi and Chrysler, have also been hit by similar allegations.

Dieselgate: A timeline Public still supportive — December 2017 Despite dieselgate, VW has managed to keep the emissions scandal from utterly tarnishing its image. According to several polls, between 55 to 67 percent of Germans continue to trust the automaker. In the US, polls show that roughly 50 percent still believe the German company produces worthwhile vehicles.

Dieselgate: A timeline Fuming over monkeys — January 2018 In late January, however, VW suffered another heavy blow over reports that the company experimented on monkeys and made the animals inhale diesel fumes. To make matters worse, a separate experiment that had humans inhale relatively harmless nitrogen dioxide was revealed at the same time. Some media wrongly interpreted this to mean humans were also inhaling toxic fumes.

Dieselgate: A timeline Canadian court demands millions — January 2020 Years after the scandal that caused Volkswagen to pay CAN$2.4 billion (US$1.83 billion), a court in Toronto order a further fine of CAN$196.5 million. Volkswagen pleaded guilty of violating in environmental laws. Prosecutor Tom Lemon noted that the fine was "26 times the highest fine ever for a Canadian environmental offence." Author: Dirk Kaufmann, Elliot Douglas



Global fallout

VW has agreed to pay out more than $15 billion (€12.52 billion) in the US as part of a compensation deal that covers 500,000 diesel vehicles equipped with the software. In Canada, it has agreed to paying 290.5 million Canadian dollars (€191 million, $233.1 million).

The German automaker has admitted that up to 11 million vehicles across the globe may have the illegal software installed.

Read more: Germany's dirty diesel cars en route to Eastern Europe

German prosecutors are still investigating how VW managed to produce vehicles with the software and who was responsible. German authorities have collaborated with US investigators, with prosecutors in Germany saying information is regularly shared between both countries.

Germany's best cult cars Trabant 601 (1964) The Trabant was to the East what the VW Beetle was to the West - a vehicle for the masses. It was cheap to produce, with an outer body made of hard plastic. The car's moment in the spotlight came with the fall of the Berlin wall, as citizens of the DDR spilled over the newly open East-West border in their "Trabis." There are still some 33,000 Trabants roaming the streets of Germany today.

Germany's best cult cars VW Beetle (1938) There's no stopping this faithful old model. With more than 21 million units having rolled off the production line, the VW Beetle is the most famous car in the world. From 1938 to 2003, its design never strayed far from the original - think "Herbie," or his German movie counterpart "Dudu."

Germany's best cult cars VW T1 (1950) The colorful VW Campervan, know as a "Bulli" in Germany, became a symbol of the hippie movement. Volkswagen wasn't initially too pleased about this, but it didn't do their sales any harm. More than 10 million VW buses have been sold since the model's introduction, of which 1.8 million were T1 models. They've also had an impressive film career - although mostly in supporting roles.

Germany's best cult cars Messerschmitt Cabin Scooter (1953) With three wheels and an aerodynamic body, it should come as no surprise that Messerschmitt was originally an aircraft manufacturer. After the Second World War, with production at a stand-still, the company agreed to work with engineer Fritz Fend on his "Flitzer" car model. It was a short-lived partnership - in 1956 Messerschmitt went back to aircraft production.

Germany's best cult cars Mercedes 300 SL (1954) This car was nicknamed the "Gullwing," thanks to its wing-like doors. The 300 SL Silver Arrows racing car earned Mercedes-Benz a surprise comeback on the motorsport scene. After wins at the 24 Hours of Le Mans and Carrera Panamericana racing events, a street version went into production.

Germany's best cult cars BMW Isetta (1955) It may not be speedy, but the BMW Isetta was still a financial success story for BMW between 1955 and 1962. Cheap and practical, this microvehicle with a motorcycle engine was known as a "bubble car." It opened at the front, just like a fridge.

Germany's best cult cars Goggomobil (1955) Another microcar with cult status is the Hans Glas "Goggo," named after the owner's grandson. Unlike other mini vehicles that had come before it, the Goggo could hold up to four people - although, given the car's 1.6-meter length, it was a bit of a squeeze. One of the car's key selling points was that it was so compact you only needed a motorcycle license to drive it.

Germany's best cult cars Porsche 911 (1963) With more than half a century of production behind it, the 911 is among the longest existing models in automobile history. In all its reincarnations, the trademark Porsche model has retained its most memorable features. With its striking headlights and its steep-sloped rear, the 911 is instantly recognizable.

Germany's best cult cars Mercedes-Benz 600 (1964) An in-car telephone, air conditioning and a freezer compartment were just some features of the German luxury sedan of the 60s and 70s. It attracted an endless list of celebrity owners, from the Pope to John Lennon. It was a little too pricey for the German government's liking, but they did rent one for special occasions, such as the 1965 state visit of Queen Elizabeth II.

Germany's best cult cars Opel Kadett B (1965) According to a song by German punk band WIZO: "Whether limousine, estate or coupé - the coolest car is a Kadett B." It seems 2.7 million customers agreed, making this one of Opel's most successful models. In the early 70s, Opel used the advertising slogan "Das Auto" for the Kadett B - long before their rivals at Volkswagen recycled the phrase.

Germany's best cult cars Wartburg 353 (1966) The Wartburg, which takes its name from a castle in the car's home town of Eisenach, was largely produced for the export market. The cheap vehicles found some success in countries such as Hungary and Great Britain. Back in West Germany, however, demand was low - owning an East German car would have been quite the political statement.

Germany's best cult cars NSU Ro 80 (1967) When NSU presented the Ro 80, rival manufacturers were watching closely. The car's twin-rotor Wankel engine, which was named after its inventor Felix Wankel, earned it the title "Car of the Year 1967." Unfortunately the technology wasn't quite ready, and NSU began replacing the motors as a precautionary measure. This unsettled potential customers and the car ultimately flopped.

Germany's best cult cars Mercedes Benz /8 "Stroke Eight" (1968) The conservative W 114/115 series sedan was hardly the fastest Mercedes around, with a top speed of 130 km/h. That makes it perhaps all the more impressive that it was not uncommon to find a Stroke Eight with several million kilometers on the clock. The quality of the car earned Mercedes 1.9 million satisfied customers - and the Stroke Eight became a collector's item.

Germany's best cult cars Opel GT (1968) "Only flying is better," is how Opel advertised its answer to the American "muscle cars." Sweeping curves, supposedly reminiscent of a Coca-Cola bottle, and pop-up headlights completed the car's unique look. An affordable price tag meant the car also attracted attention in the United States.

Germany's best cult cars VW Type 181 (1969) Initially produced for the German army, VW marketed the Type 181 as a multipurpose leisure car for young people. It offered little in the way of comfort, but a retractable roof transformed this austere jeep into a convertible. The Type 181 was warmly received in the US, where it was known simply as "The Thing."

Germany's best cult cars Opel Manta (1970) What Opel intended as a middle-class sporty model quickly became a must-have item for young men. Cue countless jokes about Manta drivers and their modest IQs. Film producer Bernd Eichinger paid tribute to the car in his 1991 comedy "Manta Manta," which co-starred a young Til Schweiger.

Germany's best cult cars VW Golf (1974) In 1974, VW brought its first Golf model to market, billing it as the successor to the beloved Beetle. For a subcompact car, the Golf was surprisingly sporty and efficient - a big advantage following the 70s oil crisis. The car's success took even VW by surprise, and the convertible model, nicknamed the "Strawberry Basket," became a sought-after cult car.

Germany's best cult cars Audi quattro (1980) "Quattro," Italian for four, refers to the car's four-wheel drive element. This unique coupé caused quite a stir upon its release. Four years later, Audi brought out the high-performance Quattro Sport (pictured). Only 220 units were produced, making it a real collector's item. More than 11,000 units of the original version, known as the "Urquattro," were made. Author: Melinda Reitz (rs), Silke Wünsch



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