VW-Rivian Insider Trading
Two Volkswagen Engineers Charged with Securities Fraud in Rivian Joint Venture
Anonymous
Key Points
1
Profit breakdown: Stamp earned about $250,000, Plank about $50,000, and Plank’s close family member about $12,000, totaling roughly $312,000 in illicit gains.
2
There is evidence of pre-announcement awareness of illegality: Stamp allegedly searched for “statute of limitations for insider trading” eight days before the deal, and Plank’s close family member asked in German, “How is insider trading punished?” after the announcement.
3
Public-announcement date for the Rivian–VW JV is reported differently across outlets: June 25, 2024 in one account, and June 26, 2024 in another.
4
U.S. Attorney Jay Clayton framed the case as a defense of market fairness, stating that insider trading undermines the principles that allow markets to function and harms ordinary investors.
Federal prosecutors charged two Volkswagen engineers with securities fraud on Tuesday, accusing them of making over $300,000 by trading Rivian stock before Volkswagen publicly announced a multibillion-dollar joint venture with the EV maker. The Next Web reported that Michael Stamp and Marcus Plank bought Rivian stock and options while secretly knowing about the deal, which was still being negotiated.
The partnership, known inside Volkswagen as Project Climb, saw VW commit roughly $5 billion to a joint venture focused on EV software and vehicle architecture. Rivian's stock surged about 23% when the deal was announced in June 2024, according to The Auto Wire.
How Stamp and Plank Cashed In on Secret Deal
Stamp and Plank learned about the Volkswagen-Rivian joint venture through their work at VW long before the public heard a word. Yahoo Finance reported they bought Rivian stock and options between April and July 2024, while the deal was still being negotiated behind closed doors. Stamp earned roughly $250,000. Plank earned about $50,000. A close family member of Plank's made an additional $12,000, bringing the total to around $312,000.
Prosecutors say Stamp and Plank reviewed confidential company information and knew they were breaking the law. This was not a case of accidental exposure to a stray memo. The indictment describes two people who understood exactly what they were doing.
Google Searches Reveal Engineers Knew the Risk
The most damning evidence may be what Stamp and Plank typed into search engines. According to The Auto Wire, Stamp searched
Plank's close family member also raised a red flag. After the deal was announced, that person asked in German, "How is insider trading punished?" — a question that suggests awareness the trades had crossed a legal line, per The Auto Wire.
The $5 Billion VW-Rivian Deal That Started It All
Volkswagen announced its joint venture with Rivian in late June 2024. The deal gave VW access to Rivian's EV software and electrical architecture. VW initially committed about $5 billion, then later raised its investment to a reported $5.8 billion, making it Rivian's largest shareholder, according to TipRanks.
The announcement sent Rivian's stock up roughly 23% in a single day. That spike is precisely what made the insider trades so profitable — and so visible to federal investigators tracking unusual options activity ahead of major corporate announcements.
U.S. Attorney Frames Case as Defense of Market Fairness
U.S. Attorney Jay Clayton used the charges to send a broader message. He said insider trading "undermines the principles that allow markets to function" and directly harms ordinary investors who trade without access to secret corporate information. The Next Web noted Clayton framed the case as a defense of the level playing field that fair markets require.
The case is part of ongoing federal efforts to crack down on insider trading tied to major corporate deals. Authorities say the message is simple: confidential information obtained through your job is not yours to profit from, no matter how large or well-connected your employer.
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