VW: Not So Fast, Mein Freund

      Well, Ollie, What do you have to say for yourself?  No, It's not Oliver Hardy of Laurel and Hardy fame we're talking about.  It's a VW executive, Oliver Schmidt, 47 years old, busted at the airport on his way home to Germany where he could at least temporarily join his cronies Jens Handler, 50; Heinz-Jakob Neusser, 56; Richard Dorenkamp, 68, Bernd Gottweis, 69; and Jurgen Peter, 69.
     He was arrested at the airport in Miami as he prepared to board.  He was indicted Tuesday along with the rest who are in Germany.  All are accused of conspiring to defraud the American public(buyers of VWs) by evading emissions regulations through manipulation of computer engine controls that were over ridden during emissions tests.
     VW has already agreed to a $17 billion fine and were just assessed another $4.3 billion fine for criminal wrongdoing.   The company admitted criminal wrongdoing as part of the agreement.  This paves the way for prosecution of the executives involved.  All 6 could face up to 25 years in prison in the US.
      The German auto industry has taken note of AG Loretta Lynch' position and will definitely understand going forward that this type of fraud will be dealt with harshly when exposed for what it is: a crime.  The fines and assessments will send a message around the world.