Luxury car maker Audi’s CEO Rupert Stadler was arrested on Monday due to the ongoing diesel emission scandal, which has been plaguing the parent company Volkswagen for the past three years. Prosecutors in Munich have added that Stadler was detained due to looming concerns that he might tamper the evidence and hinder the progress of the ongoing scandal. Audi’s parent company Volkswagen has confirmed Stadler’s arrest, and the board is meeting on Monday to talk about the issue.
It’s worth noting that Volkswagen accepted in 2015 that it had deployed software in its cars (nearly 11 million) to rig up the emission tests. Last week German prosecutors imposed a $1.2 billion fine to the automaker in lieu of the emission scandal. The company has spent a whopping $30 billion till now relating to the scandal, which includes costs relating to settlement, recalls and penalties.
Volkswagen’s shares plunged nearly 3% in Frankfurt.