Sources: Volkswagen Agrees to $4.3 Billion US Diesel Settlement


Sources: Volkswagen Agrees to $4.3 Billion US Diesel Settlement
  1. Sources: Volkswagen Agrees to $4.3 Billion US Diesel Settlement
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    Volkswagen AG has agreed to a $4.3 billion settlement to resolve the U.S. government's civil and criminal investigations into the German automaker's diesel emissions cheating, two sources briefed on the matter said…
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Volkswagen AG has agreed to a $4.3 billion settlement to resolve the U.S. government's civil and criminal investigations into the German automaker's diesel emissions cheating, two sources briefed on the matter said Wednesday.

U.S. Attorney General Loretta Lynch and Environmental Protection Agency chief Gina McCarthy will announce the settlement in Washington on Wednesday at a news conference, the government said in a statement.

Reuters has learned that prosecutors may charge additional individuals with criminal conduct as early as today, the sources said.

On Monday, a VW executive, the second VW employee charged by U.S. prosecutors, was accused of conspiracy to defraud the United States over the company's emissions cheating and the automaker was charged with concealing the cheating from regulators.

The world's second largest automaker confirmed Tuesday it has negotiated a $4.3-billion concrete draft settlement with U.S. regulators to resolve its diesel emissions issues and plans to plead guilty to criminal misconduct as part of the civil and criminal settlement.

The settlement doesn't impact the government's ongoing investigation into individual misconduct by current and former VW employees.

Volkswagen had previously agreed to spend up to $17.5 billion in the United States to resolve claims by U.S. regulators, owners and dealers and offered to buy back nearly 500,000 polluting vehicles. The automaker was in intensive talks with regulators in recent weeks in an…

Tags: #Volkswagen
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