U.S. subpoenas Volkswagen under bank fraud law in diesel emissions probe -source | Reuters

WASHINGTON The U.S. Justice Department sent German automaker Volkswagen AG (VOWG_p.DE) a subpoena under a bank fraud law in its diesel emissions probe, a person briefed on the matter said Tuesday.

The government is using the Financial Institutions Reform, Recovery and Enforcement Act to issue the civil subpoena, a tool used in investigating large financial institutions, said the source who requested anonymity, citing the sensitivity of the ongoing probe. The law allows the government's civil division to investigate fraud over the last 10 years.

VW spokeswoman Jeannine Ginivan declined to comment on talks with regulators, but said the automaker "will continue to cooperate with all relevant government agencies."

(Reporting by David Shepardson; Editing by Richard Chang)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Mar 09, 2016 03:15 AM

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