Volkswagen Executive Denied Bail in U.S. Emission Scandal
- German National Schmidt told judge he wasn’t flight risk
- Schmidt pleaded not guilty to fraud and conspiracy charges
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A Volkswagen AG compliance executive charged with fraud and conspiracy over the company’s emissions-cheating scandal was denied bail after prosecutors claimed the German national was a flight risk.
Oliver Schmidt pleaded not guilty last month and has been in U.S. custody since his arrest in January while on vacation in Florida. Five other executives based in Germany, who were indicted by the U.S. over their alleged roles in the plot, have stayed home where they are protected from extradition.