“Former Porsche SE (PAH3) Chief Financial Officer Holger Haerter is one of the people charged with fraud in Germany over statements made when refinancing a 10 billion- euro ($13.2 billion) loan, according to two people familiar with the matter.
Three men are accused of understating Porsche’s liquidity needs by 1.4 billion euros if all purchase options the company held on Volkswagen AG (VOW) (VOW3) shares had been exercised, Stuttgart prosecutors said in an e-mailed statement today, without identifying the suspects or the bank by name. The managers also withheld some information about put options tied to VW shares that Porsche sold, prosecutors said….”
If you enjoy the content at iBankCoin, please follow us on Twitter
