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

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:

This post was published at Zero Hedge on Jan 10, 2017.