Indicted VW exec seeking release on bail over US objection

Markets Associated Press

FILE- This file photo provided by the Broward County Sheriff's Office shows Oliver Schmidt under arrest on Jan. 7, 2017. Schmidt, the general manager of the engineering and environmental office for Volkswagen America, was arrested in connection with ... the company's emissions-cheating scandal. Schmidt goes before a federal judge Thursday, Jan. 12, 2017, seeking release on bail. (Broward County Sheriff's Office via AP, File) (The Associated Press)

A high-ranking Volkswagen AG executive indicted in the company's U.S. emissions scandal is seeking release on bail over the objections of federal prosecutors.

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A detention hearing for 48-year-old Oliver Schmidt is scheduled Thursday in Miami, where he was arrested on a visit to the U.S. from Germany. Five other Volkswagen executives have also been charged in an indictment released Wednesday in Detroit.

Prosecutors say Schmidt should remain jailed until the case is resolved because he might flee to Germany. Schmidt's lawyers insist he would remain in the U.S. if released.

The charges are part of the government case against VW for knowingly selling diesel vehicles that didn't meet U.S. emissions standards. The company itself has agreed to plead guilty on the criminal case and pay a record $4.3 billion penalty.