Judge rejects bail for VW executive

detroit» A judge on Thursday refused to set a bond and release a German Volkswagen executive who was arrested in the company’s U.S. emissions scandal while on vacation in Florida.

Oliver Schmidt’s attorneys said he was willing to risk $1.6 million in assets, with help from family and friends, to persuade a judge that he would stay in the Detroit area and return for subsequent court hearings. But prosecutors successfully argued that he has no ties to the U.S. and would be out of reach if he flees to Germany, his home country and the headquarters of Volkswagen.