Post by Logan on Mar 11, 2017 4:59:00 GMT -6
Volkswagen is scheduled to appear in court today to plead guilty to fraud, obstruction of justice and for misrepresenting the capability of vehicles with diesel engines it imported into the U.S.
The world's largest automaker agreed to pay $4.3 billion in fines and penalties in January but that deal still must be approved by a federal judge, and an executive representing the company is expected to appear in court.
The agreement includes a commitment to pay a $2.8-billion criminal fine and $1.5 billion to settle environmental, customs and financial violations.
If approved, it will be among the largest criminal settlements ever extracted from an automaker by the U.S. government. The deal also comes on the heels of Takata's guilty plea and agreement on Feb. 27 to pay $1 billion after pleading guilty to concealing data for more than a decade that showed its air bags could be at risk of exploding and harming passengers under certain conditions.
Read more: www.freep.com/story/money/cars/2017/03/09/volkswagen-emissions-scandal-plea-deal/98921320/
The world's largest automaker agreed to pay $4.3 billion in fines and penalties in January but that deal still must be approved by a federal judge, and an executive representing the company is expected to appear in court.
The agreement includes a commitment to pay a $2.8-billion criminal fine and $1.5 billion to settle environmental, customs and financial violations.
If approved, it will be among the largest criminal settlements ever extracted from an automaker by the U.S. government. The deal also comes on the heels of Takata's guilty plea and agreement on Feb. 27 to pay $1 billion after pleading guilty to concealing data for more than a decade that showed its air bags could be at risk of exploding and harming passengers under certain conditions.
Read more: www.freep.com/story/money/cars/2017/03/09/volkswagen-emissions-scandal-plea-deal/98921320/