Volkswagen settlement talks to include $4.3 billion and a guilty plea


Volkswagen settlement talks to include $4.3 billion and a guilty plea
  1. Volkswagen settlement talks to include $4.3 billion and a guilty plea
    money.cnn.com
    Volkswagen is negotiating a settlement with the U.S. Justice Department that would require the carmaker to pay $4.3 billion in fines and plead guilty to criminal wrongdoing. …
    Companies
3 things you need to know about the Volkswagen scandal 3 things you need to know about the Volkswagen scandal

The settlement would also require Volkswagen to appoint an independent monitor over its operations for the next three years.

Volkswagen released the details of the pending agreement Tuesday and said it was intended to settle criminal and civil cases regarding the company's diesel emission scandal.

Major corporate settlements usually do not include a guilty plea.

A federal complaint unsealed this week alleged that top executives at Volkswagen ordered U.S. managers to mislead regulators about the company's use of software to cheat diesel emissions tests.

And a Volkswagen executive was arrested by the FBI earlier in January for his alleged role in emissions cheating and attempts to cover it up.

The company has already been hit with a $14.7 billion settlement it agreed to in June. That deal included payouts to customers, as well as funds allocated for environmental cleanup and the promotion of zero-emission vehicles.

Related: Volkswagen agrees to record $14.7…

Tags: #Volkswagen
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