The Traderszone Network

Published in TZ Latest News 29 August, 2014 by The TZ Newswire Staff

China graft watchdog probes another exec at Volkswagen JV

China’s anti-graft watchdog has said it is investigating a former senior executive at Volkswagen AG’s Chinese venture, FAW-Volkswagen Automotive Co Ltd, for corruption, the latest target in a widening probe against the company. An Dewu, FAW’s former deputy general manager, was investigated for “suspected serious violations of the law”, the ruling Chinese Communist Party’s discipline watchdog said late on Friday. In China, the term “serious violations of the law” can be used to denote corruption.