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Lynch: VW will pay $4.3 billion U.S. diesel settlement

Wednesday, January 11, 2017 - 01:23

U.S. Attorney General says Volkswagen AG will pay a $4.3 billion settlement to resolve investigations into the company's diesel emissions cheating. Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) STORY: U.S. Attorney General Loretta Lynch said on Wednesday that Volkswagen AG will pay a $4.3 billion settlement to resolve the U.S. government's civil and criminal investigations into the German automaker's diesel emissions cheating. Lynch also announced the indictment of six former high level Volkswagen executives. "For years Volkswagen advertised its vehicles as complying with anti-pollution measures calling them 'clean diesel', " Lynch said. "But our investigation has revealed they were anything but." VW admitted in September 2015 to installing secret software in hundreds of thousands of U.S. diesel cars to cheat exhaust emissions tests and make them appear cleaner than they were on the road, and that as many as 11 million vehicles could have similar software installed worldwide. Much of the company's senior management departed following the scandal, including chief executive Martin Winterkorn.

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Lynch: VW will pay $4.3 billion U.S. diesel settlement

Wednesday, January 11, 2017 - 01:23