Judge re­jects bail for VW ex­ec­u­tive

The Denver Post - - BUSINESS -

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.

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