The CEO of Volkswagen ,Martin Winterkorn has resigned. This followed the investigation by the Attorney General of New York into the admission by VW of installing a software in it's vehicles to beat emission tests. The heat has come on VW from the investing public and German prosecutors. The AGF of Newyork has insisted that all the other AGF of the United States will be joined in the investigation against the VW fraud. VW has seen its shares jump after the resignation of its CEO following a meeting with the company's supervisory board.
The board has said all those found culpable in the cheating scandal will be brought to book.The scandal could kill VW diesel cars most supseptible in the scandal as the prosecutors insist the 6.5 billion euro fund set up by VW is nowhere enough. VW could actually face bankruptcy they say.
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