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SEC charges Volkswagen, former CEO with fraud

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The U.S. Securities and Exchange Commission charged Volkswagen and former CEO Martin Winterkorn with fraud.

Specifically, VW and Winterkorn are accussed of allegedly defrauding American investors by issuing bonds and asset-backed securities when they knew over 500,000 vehicles in the U.S. exceeded legal vehicle emissions limits.

VW allegedly "perpetrated a massive fraud" by repeatedly lying to investors, according to the SEC.

Read more from CNBC.

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