Ex-VW CEO Winterkorn said to pay $12M in diesel scandal damages

FRANKFURT — Former Volkswagen Group CEO Martin Winterkorn has agreed to pay around 10 million euros ($12.2 million) in damages to the carmaker over the diesel emissions scandal, Business Insider reported on Monday.

VW had said in March it would claim damages from Winterkorn over the scandal as it tries to draw a line under the crisis.

Business Insider, citing a draft contract, reported that an agreement between the automaker, Winterkorn and other former executives could be signed this week.

VW’s supervisory board is scheduled to discuss an agreement this week, two sources with knowledge of the matter told Reuters. An annual general meeting of shareholders in July would then need to sign off on it.

VW declined to comment. A spokesman for Winterkorn did not answer the phone when called for comment.

The automaker had said in March that following a far-reaching legal investigation it had concluded Winterkorn had breached his duty of care. Winterkorn has denied being responsible for the scandal.

VW in 2015 admitted using illegal software to rig diesel engine tests in the U.S. The scandal has cost it more than 32 billion euros ($39 billion) in fines, refits and legal fees.

Winterkorn resigned as CEO on Sept. 23, 2015, a week after the scandal broke.

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