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Piech testifies in corruption case

Ferdinand Piech, Volkswagen AG Chairman and grandson of Porsche founder Ferdinand Porsche, has testified to a German court that he didn't know about any payments made to labour leaders when he was CEO between 1993 and 2002.

The trial centres around former VW manager Klaus-Joachim Gebauer and ex-labour leader Klaus Volkert. Volkert is charged with demanding illegal bonuses while Gebauer is accused of breach of trust for reportedly organising these payments.

Piech has only been called in as a witness but could find himself in trouble if it is deemed that he knew about these payments. VW had also considered legal action over allegations that Piech was involved with the corruption scandal.

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