Insider‑Trading Indictment Against Former Volkswagen Engineers
Federal prosecutors filed an indictment on 25 July 2026 against two former Volkswagen AG engineers, Michael Stamp and Michael Plank, accusing them of insider trading tied to Volkswagen’s $5 billion joint‑venture with Rivian Automotive Inc. The joint‑venture was publicly announced on 26 June 2024.
Profits Realised from the Insider Information
Prosecutors allege that Stamp earned $250,000 after Rivian’s stock price rose 23% following the joint‑venture announcement. Plank is reported to have made $50,000 from the same price movement and to have passed the confidential information to a close family member, who subsequently earned $12,000.
Evidence of Pre‑Announcement Awareness
Internet search records indicate that eight days before the 26 June 2024 announcement, Stamp searched the phrase “statute of limitations insider trading.” After the deal became public, the family member linked to Plank searched the German phrase “how is insider trading prosecuted?” demonstrating awareness of the illicit nature of their actions.
Publication Note
The article was generated with AI assistance and reviewed by an editor, as noted in the Reuters disclaimer.