Porsche board member Siegfried Wolf charged with money laundering

Vienna — Porsche board member and former head of car supplier Magna International, Siegfried Wolf, has been charged by an Austrian court on suspicion of money laundering.

The charges filed this week are in connection with the purchase of Eurofighter jets two decades ago. The regional court in Graz said Wolf, an Austrian entrepreneur and Porsche supervisory board member, was due to stand trial along with another suspect, whom it did not name.

Wolf's spokesperson did not immediately reply to a request for comment. When asked by the Austrian press agency APA, his spokesperson responded with “no comment”.

The case revolves around the Austrian government’s multibillion-euro purchase of Eurofighter jets in 2003.

One of the suspects is alleged to have concealed about €6.8m, as well as its origins, which were from embezzlement activities, according to prosecutors.

The other suspect in turn received those funds partially in gold, or had them exchanged into gold, and then kept them in Switzerland until they were returned to the first suspect. According to prosecutors, this was to conceal the whereabouts of the money.

Prosecutors did not specify which suspect was Wolf.

The first suspect is also accused of having given false testimony before a parliamentary investigative committee on the matter, the prosecutors said.

In April, reports in Germany's Spiegel, and other publications, said Wolf had offered to help Russian President Vladimir Putin with the production of cars in Russia.

Reuters