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Volkswagen Sentenced to Pay $2.8B in Dieselgate Case

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

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

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

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

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

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

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

[source: Reuters]

The post Volkswagen Sentenced to Pay $2.8B in Dieselgate Case appeared first on VWVortex.



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