AutoBeta(AutoBeta.net)05/29 Report--

German prosecutors raided Porsche and the local tax bureau as part of a larger investigation into the leakage of confidential government information to Porsche's tax advisers, according to German media reports. and Porsche pays a high salary to a member of Porsche's labor commission.

In a statement, Stuttgart prosecutors said tax investigators and prosecutors in Baden-W ü rttemberg searched several properties, including Porsche's offices in Visaci and Stuttgart, the offices of a tax adviser in Stuttgart and the offices of the finance department.

The prosecutor's office also said Porsche executives were under investigation for allegedly breaching fiduciary duties by paying a "disproportionate" salary to a member of the Porsche industrial board without further details.

In addition, prosecutors have conducted a number of investigations into Porsche. Prosecutors suspect that a former Porsche union member was overpaid and suspected that Porsche bribed members of the union. Meanwhile, five Porsche executives and employees are also under investigation.

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