It looks like things have turned sour at Porsche headquarters in the past few months. At the beginning of this year, a former Porsche dealer in India, Precision Cars, filed a criminal case against Porsche and the courts in Jaipur decided that Porsche CEO, Mattias Müller, and eight other Porsche execs could be arrested and issued warrants for said arrests .
Now, Porsche’s is facing other difficulties. Ex-finance chief, Holger Haerter, has been convicted of fraud after a court in Stuttgart, Germany proved he provided falsified information back in 2009 when Porsche tried to take over Volkswagen AG. The court decided that Haerter offered inaccurate information when he was working on refinancing French bank BNP Paribas’ part of a €10 billion loan ($13 billion). The biggest issue at hand is that this false information affected Volkswagen ’s stock price and lead to market manipulation.
Reports say that prosecutors wanted him to serve time in jail, but instead he was fined an unspecified amount. Haerter rejected the charges and argued for an acquittal.
Click past the jump to read more about Volkswagen’s takeover.