Porsche Automobil Holding SE's (PAH3.XE) former chief financial officer Holger Haerter and two other managers have been charged with credit fraud in connection with the attempted takeover of Volkswagen AG (VOW.XE), the company said Tuesday.

The Stuttgart prosecutors office said three people are accused of providing inaccurate information when negotiating follow-up financing for a EUR10 billion loan maturing in March 2009.

Haerter's lawyer wasn't immediately available to comment.

Porsche said the other two people haven't served as company executives, but the prosecutors office said at least one of them still works for Porsche.

In a written statement to one bank, the three managers claimed the liquidity requirement for the exercise of call options would be about EUR1.4 billion lower than it actually was, according to the prosecutors office. They are also accused of concealing that Porsche had sold put options for about 45 million ordinary Volkswagen shares.

At the same time, investigations into accusations of market manipulation and embezzlement against former executive board members are continuing.

-By Friedrich Geiger, Dow Jones Newswires; +49 69 29725 506; friedrich.geiger@dowjones.com

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