6 VW employees indicted in emissions scandal; VW fined $4.3B - News Summed Up

6 VW employees indicted in emissions scandal; VW fined $4.3B


6 VW employees indicted in emissions scandal; VW fined $4.3BWASHINGTON -- Six high-level Volkswagen employees from Germany were indicted in the U.S. on Wednesday in the VW emissions-cheating scandal, while the company itself agreed to plead guilty to criminal charges and pay $4.3 billion — by far the biggest fine ever levied by the government against an automaker. Privately, Justice Department officials expressed little optimism that the five VW executives still at large will be arrested, unless they surrender or travel outside Germany. Still, the criminal charges are a major breakthrough for a Justice Department that been under pressure to hold individuals accountable for corporate misdeeds ever since the 2008 financial crisis. U.S. authorities are still investigating just how high the scheme went, and held out the possibility of charges against more VW executives. U.S. regulators confronted VW about the software after university researchers discovered differences in testing and real-world emissions.


Source: The China Post January 12, 2017 00:30 UTC


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