EU Anti-Fraud Arm Investigating Loans to VW Amid Diesel Scandal
- OLAF looks into European Investment Bank loans to carmaker
- EIB had said in October it was reveiwing how loans were used
VW Loses Most Market Share in Europe Since Scandal Broke
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The European Union’s anti-fraud office OLAF is investigating loans Volkswagen AG received from the European Investment Bank to produce cleaner engines.
The authorities picked up the issue after EIB chief Werner Hoyer said in October the lender was looking into the loans itself in light of the emissions scandal. The credits were granted to Volkswagen to help fund the development of cleaner engines.