Porsche staff in fraud case

GERMAN state prosecutors have charged three employees at Porsche with credit fraud, the latest fallout from a legal dispute alleging the sportscar maker illegally cornered the market in Volkswagen shares in 2008.

The unnamed Porsche employees are accused of giving false information about the number of options Porsche held on Volkswagen ordinary shares during talks over a €10bn (£8.35bn) loan refinancing in March 2009, prosecutors in Stuttgart said in a statement yesterday.