Arrest warrant issued for former VW executive

5th October 2005, Comments 0 comments

5 October 2005, NEW DELHI - A court in the southern Indian state of Andhra Pradesh has issued a warrant for the arrest of former Volkswagen (VW) executive Helmuth Schuster, a government official said Wednesday.

5 October 2005

NEW DELHI - A court in the southern Indian state of Andhra Pradesh has issued a warrant for the arrest of former Volkswagen (VW) executive Helmuth Schuster, a government official said Wednesday.

Schuster, who used to represent the German auto major in India, is wanted in connection with a case of fraud and criminal breach of trust.

India's Central Bureau of Investigation (CBI) is probing the case.

CBI spokesman G. Mohanty said a designated court in Andhra Pradesh capital had issued an arrest warrant for Schuster.

"The routine procedure is that if he cannot be arrested within a stipulated period of time, his property will be attached and a red alert from Interpol may be requested," Mohanty said.

The CBI official said investigations into the case were at an advanced stage.

Schuster reportedly asked the Andhra Pradesh government to pay 2.4 million U.S. dollars to Vashishta Wahan, a company he floated along with three Indian associates, promising that he would set up a VW manufacturing unit in the state.

The CBI has recovered about 1.1 million U.S. dollars from one of Schuster's Indian associates.

The Andhra Pradesh government last month declined VW's offer to compensate the money allegedly defrauded by Schuster.

DPA

Subject: German news

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