VW's Oliver Schmidt Gets 7 Years in Prison for Dieselgate Role

Q5TDI

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A federal court judge in Detroit sentenced a former Volkswagen manager Wednesday to 7 years in prison and ordered him to pay $400,000 in the company's massive diesel emissions cheating scandal, but Judge Sean Cox made clear that justice has not yet been served.

Cox described the ex-manager, Oliver Schmidt, as an opportunist and a significant player in Volkswagen's attempted cover-up. But he also noted that "senior management has not been held accountable" in a case that has hurt both consumers who thought they were getting a good product and blue-collar and middle-management workers at VW. He said the VW case "attacks and destroys" the foundation of the country's economic system -- the trust between buyers and sellers.

Cox had harsh words for Schmidt, seeing no excuses for the highly educated mechanical engineer. He doesn't suffer from the substance abuse common among criminal, comes from a good family and was well-off financially, with a $130,000 base salary, $40,000 annual bonuses and a net worth of $1 million.

https://www.freep.com/story/money/c...-scandal-oliver-schmidt-sentencing/924278001/
 

czeetah

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Well off financially with a net worth of only $1 million?

Sorry but if you want to retire and squeak by on an annual budget of $50k a year for 20 years you need $1 million.

And I imagine in 20 years with inflation that $50k a year won't feel like a luxurious living. And if you hope to make it 30 years into retirement that $1 million is going to be REAL TIGHT.
 

740GLE

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Guess the saying is true about excrement flows down hill, at a certain level there are no golden parachutes.

How come Michael Horn hasn't had his day in court?
 

Rico567

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I believe there are a number of VW execs who are escaping prosecution by not setting foot on US soil.
Sure- and what has happened to Schmidt ensures they won't enter U.S. jurisdiction, at least not until after the statute of limitations has expired, or unless they can somehow wangle a diplomatic immunity from their government (unlikely).
 

oilhammer

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There are just too many to list....
Well off financially with a net worth of only $1 million?

Sorry but if you want to retire and squeak by on an annual budget of $50k a year for 20 years you need $1 million.

And I imagine in 20 years with inflation that $50k a year won't feel like a luxurious living. And if you hope to make it 30 years into retirement that $1 million is going to be REAL TIGHT.

No kidding. A guy making ~$170k/yr with no drug habits only worth $1M? That guy must have made a lot of hookers rich then. Wow. Heck, if I made that much I'd have TEN million banked by now. And I'd certainly have a helluva lot more Volkswagens. :D
 

Kevinski4

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Irony is strong here. Gov puts a guy in prison for vehicle emissions violations when the Gov's own vehicles are exempt... Rules for thee but not for me... I'll bet he wishes he had used his software engineering background to run a server in a closet in NY rather than develop engine management software...
 

k1xv

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While the VW executives may be safe from extradition so long as they remain within Germany, if they venture to a third country with an extradition treaty with the USA, they run the risk of arrest and extradition.

Gee whiz, these guys were "only following orders".
 

740GLE

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No kidding. A guy making ~$170k/yr with no drug habits only worth $1M? That guy must have made a lot of hookers rich then. Wow. Heck, if I made that much I'd have TEN million banked by now. And I'd certainly have a helluva lot more Volkswagens. :D

Seriously, there was an article in the Boston Globe yesterday that stated majority of the suburbs are going to be crying poverty with the new tax plan. Those making 200K are currently crying poverty cause the state income and local property tax where they chose to live in is over 40K/yr. I guess certain people get accustomed to certain lifestyles.

Looks like there maybe some more MA-NH transplants.

http://www.bostonglobe.com/business...7735125&s_campaign=todaysheadlines:newsletter
 

NAZ TDI

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I think this whole "scandal" is nothing but a witch hunt! Much ado about very little! Out here in the real world a VW Diesel IS still a clean Diesel!! Most other car companies with Diesel powered vehicles have done the exact same thing as VW did, in an effort to deal with stupidly strict emission standards. VW just got caught on a slow news day!
 

MBQ

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I think this whole "scandal" is nothing but a witch hunt! Much ado about very little! Out here in the real world a VW Diesel IS still a clean Diesel!! Most other car companies with Diesel powered vehicles have done the exact same thing as VW did, in an effort to deal with stupidly strict emission standards. VW just got caught on a slow news day!
Curious how Dodge Ram 1500 ecodiesel got away with it with a "fix".
 
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