Advertisement

Volkswagen of America Inc. is suing two...

Volkswagen of America Inc. is suing two former employees--a married couple--alleging they bilked VW out of millions of dollars as part of a foreign currency trading scheme that came to light in 1986, VW said. The move puts an American twist on a currency scandal that rocked auto maker and cost it $261 million. The couple are Nicholas Carucci, who had been a manager of group banking operations at the firm’s U.S. headquarters in Troy, Mich., and his wife Donna, an executive secretary for VW. The suit alleges that the Caruccis “bought or sold U.S. dollars at rates that deviated from actual market rates. The intent was to resell the same U.S. dollars at higher markets prices and to keep for themselves the second profit.”

Volkswagen logo


Advertisement
Advertisement