Volkswagen To Pay $4.3 Billion To Settle Diesel Scandal, Will Plead Guilty To Criminal Charges

Share on Facebook

Tweet on Twitter

zerohedge.com / by Tyler Durden / Jan 10, 2017 8:10 PM

Confirming recent leaks, Volkswagen – whose former head of US regulatory compliance was arrested on Saturday – said it was in “advanced discussions”  with US authorities to resolve charges related to its diesel emissions scandal, and has negotiated a “concrete draft of a settlement” that would see it pay $4.3 billion in criminal and civil penalties, and would require the German carmaker to enter a guilty plea to various criminal charges, strengthen compliance systems and install an independent monitor for three years.

The agreement, which has yet to be finalized, would lead to an expense that exceeds current provisions, the German automaker said. It also includes a guilty plea to some criminal charges, the Wolfsburg, Germany-based automaker said:

READ MORE

Read more ... source: The Bitcoin Channel

SHARE

Facebook

Twitter

Previous articleOKCoin Joins Calls for Bitcoin Regulation in China

Let's block ads! (Why?)

Powered by Bitcoin Central