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Volkswagen to pay $4.3 billion

Wednesday, January 11, 2017 - 00:55

Volkswagen agreed to pay $4.3 billion in fines and penalties to resolve its diesel emissions troubles. Bobbi Rebell reports.

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Volkswagen has made a deal with the U.S. government to settle its diesel emissions troubles. U.S. Attorney General Loretta Lynch: (SOUNDBITE) LORETTA LYNCH, U.S. ATTORNEY GENERAL, (ENGLISH) SAYING: "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 also requires VW to pay $4.3 billion in criminal and civil penalties - one of the largest clean-air penalties ever achieved - and also takes specific measures to prevent future violations." Lynch added that six former Volkswagen executives will face indictments. Separately, Volkswagen agreed to pay a civil penalty of $50 million.

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Volkswagen to pay $4.3 billion

Wednesday, January 11, 2017 - 00:55