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Ex-Porsche CFO ‘Aghast’ at Criminal Case

Haerter denies making misleading statements while refinancing bank loan.

By Karin Matussek, Bloomberg | Updated on September 05, 2012

Former Porsche SE Chief Financial Officer Holger Haerter told a German court on the first day of his trial that he didn’t make misleading statements in 2009 when the company refinanced a 10 billion-euro loan ($12.5 billion).

Haerter denied charges he downplayed Porsche’s liquidity needs when negotiating with BNP Paribas SA about a 500 million-euro share of the loan. He said prosecutors didn’t understand the complex terminology used in the discussions.

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