US indicts six as Volkswagen agrees to $4.3 bln diesel settlement - Business News - News Summed Up

US indicts six as Volkswagen agrees to $4.3 bln diesel settlement - Business News


Two other former heads of engine development, Jens Hadler and Richard Dorenkamp, were also indicted. VW executives destroyed documents and other evidence in an attempt to avoid detection, the Justice Department said.U.S. Attorney General Loretta Lynch declined to say if any higher level executives could face charges. VW was in intensive talks with regulators in recent weeks to reach a deal before the end of the Obama administration. It's shares rose 3.4 percent on news of the settlement Wednesday to their highest level since the scandal became public in September 2015.


Source: The Star January 12, 2017 00:46 UTC


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