Volkswagen CEO faces scrutiny over possible market manipulation

Volkswagen emissions scandal: A timeline
Volkswagen emissions scandal: A timeline

Volkswagen could be facing another crisis.

Germany's financial watchdog has filed a complaint with prosecutors over possible market manipulation by current and former Volkswagen executives including CEO Matthias Müller.

The Federal Financial Supervisory Authority, or BaFin, confirmed Wednesday that it referred the matter to state prosecutors in Stuttgart in the summer of 2016.

Jan Holzner, a prosecutor in Stuttgart, confirmed that his office had received the complaint against Müller, VW chairman Hans Dieter Pötsch and former CEO Martin Winterkorn.

Porsche executive Philipp von Hagen is also named in the complaint.

Holzner, the prosecutor, said he could not confirm nor deny that a criminal investigation is underway.

A Volkswagen (VLKAF) spokesman said the company has not received any information about an investigation into Muller. The spokesman declined to comment further.

Volkswagen has tried to turn the page on its massive emissions scandal in recent months, agreeing to pay billions of dollars in federal fines and pleading guilty to criminal charges in the U.S.

But legal problems have continued to dog the firm, which sold more cars than any of its rivals last year.

Related: German prosecutors raid headquarters of Volkswagen and Audi

Müller, who was the head of VW subsidiary Porsche when the scandal broke in late 2015, was elevated to group CEO following the resignation of Winterkorn.

Last year, German prosecutors said they were investigating Winterkorn on suspicion of manipulating the market in the company's shares.

Volkswagen later confirmed Pötsch was also under investigation.

In March, German prosecutors raided the headquarters of Volkswagen and Audi as part of a continued investigation into the group's use of software to cheat diesel emissions tests.

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