In August, German prosecutors mounted a raid of Porsche’s offices, looking into what the company’s last CEO, Wendelin Wiedeking, and his financial chief, may have done to manipulate the markets and violate securities laws. Now Porsche has confirmed further raids have been conducted on apartments belonging to a sub-management level employee.
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Wendelin Wiedeking, the highly regarded chief executive of Porsche who is now blamed for incurring huge debts to finance a bid for Volkswagen AG, may be pushed out of his job, according to German news reports.
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