Volkswagen reaches US settlement as six executives indicted
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.
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 company’s engine development division and serving on the company’s management board. Over the course of a conspiracy that lasted for nearly a decade, they seriously abused those positions.”
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