Volkswagen Sentenced to Pay $2.8B in Dieselgate Case

Volkswagen Sentenced to Pay $2.8B in Dieselgate Case

0 comments 📅22 April 2017, 02:00

Volkswagen was sentenced today in its much publicized dieselgate malefactor case. US District Judge Sean Cox formally approved the Department of Justice and VW’s $4.3 billion harmony as well as a $2.8 billion criminal fine.

Volkswagen “deeply regrets the behavior that gave get up to this case. Plain and simple, it was wrong,” said Manfred Doess, VW’s all-inclusive counsel speaking the automaker’s behalf.

As well as formalizing VW’s punishment for its dieselgate stigma, the court also officially appointed former Deputy US Attorney General Larry Thompson as the followers’s new independent monitor.

That appointment comes as part of VW’s three years of “organization probation.” Thompson has reportedly already assembled a band of experts for the job.

“This is a very serious and very troubling case involving an iconic automobile society,” said Judge Cox, according to Reuter. “I just can’t have faith VW is in the situation it finds itself in today.”

Volkswagen’s compliance with the US government and its answerable plea, though, have been mitigating factors in this case. The oversight said that without a plea agreement VW faced a penalty of between $17 billion and $34 billion.

The okay news for the automaker is that this marks the beginning of the end for the dieselgate crisis in America. Investigations persevere in in Europe, though.

[source: Reuters]

Instant Comments…

comments



Source

Share this article:

No Comments

No Comments Yet!

You can be first one to write a comment

Leave a comment