"I do not see the accusations being backed by facts," analyst Christoph Schmidt told Financial Times Deutschland, quoted by just-auto.com. "Things will fizzle out," he added.
The latest Porsche drama began last week, when the country's public prosecutor's office raided the offices of Porsche Automobil Holding SE and Dr. Ing. h.c. F. Porsche AG, both in Stuttgart. German officials were acting on reports claiming a possible breach of the publication duty as prescribed by the German Stock Corporation act.
Together with Porsche, German prosecutors are investigating Wendelin Wiedeking and the manufacturer's former financial officer, Holger Haerter. When the story broke, Porsche denied its involvement in such practices, despite the fact that "officials searched the business premises of the companies, seizing numerous business documents in the process."
Wiedeking left Porsche on July 23, together with Holger Haerter, as a result of the battle which ensued this year between Volkswagen and its major shareholder, Porsche. Porsche's former CEO, whose contract with the company was due in 2012, received a severance package of 50 million euros.
The same day, Wiedeking announced he would give most of the money to charity and "over and above this I will invest in projects, targeting at creating jobs in Germany. I do pay my taxes in Germany with roughly half of my income being transferred to the state."
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