Volkswagen reaches US settlement as six executives indicted

By / 8 years ago / News / No Comments

Volkswagen has agreed to pay a total $4.3bn in US fines and penalties as it works with the government to resolve criminal and federal environmental and other civil claims over the diesel scandal.

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The agreement comes as the US Department of Justice announces the indictment of six former high-level VW executives.

The agreement includes the appointment of an independent monitor for three years as part of a series of measures to further strengthen its compliance and control systems.

CEO Matthias Müller said: “Volkswagen deeply regrets the behaviour that gave rise to the diesel crisis. Since all of this came to light, we have worked tirelessly to make things right for our affected customers and have already achieved some progress on this path. The agreements that we have reached with the US government reflect our determination to address misconduct that went against all of the values Volkswagen holds so dear. They are an important step forward for our company and all our employees.”

As part of this resolution, VW is pleading guilty to three felonies: conspiracy to defraud the United States, to commit wire fraud, and to violate the Clean Air Act; obstruction of justice; and importation of goods by false statements.

The agreement comes as the US Department of Justice announces the indictment of six former high-level VW executives. Richard Dorenkamp, Bernd Gottweis, Jens Hadler, Heinz-Jakob Neusser, Jürgen Peter, and Oliver Schmidt are being charged with a range of crimes, including conspiracy to defraud the United States, violations of the Clean Air Act, and wire fraud.

Attorney General Loretta E Lynch said: These individuals all held positions of significant responsibility at VW, including overseeing the companys engine development division and serving on the companys management board. Over the course of a conspiracy that lasted for nearly a decade, they seriously abused those positions.

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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.

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