MUNICH -- Former Volkswagen AG CEO Bernd Pischetsrieder agreed to donate 100,000 euros ($139,000) to charities to settle tax evasion charges brought against him, the Munich Regional Court said.
Pischetsrieder went on trial on Monday, accused of evading more than 230,000 euros in taxes between 2000 and 2003 by transferring interest on loans for one property he owned to other properties.
He told the court that he hadn't hidden anything or set out to evade taxes.
Pischetsrieder was CEO of BMW from 1993 to 1999. He joined VW group in 2000 as head of Volkswagen's Spanish subsidiary, Seat, succeeding Ferdinand Piech as CEO of VW Group in 2002.
In late 2006, Pischetsrieder was replaced as VW Group CEO by Martin Winterkorn after a power struggle with Piech, who is VW supervisory board chairman.
Sources: Bloomberg, media reports