Today at U.S. District Court in Detroit, Volkswagen pleaded guilty on three felony charges relating to the diesel emission scandal as part of a plea agreement. The three felonies are conspiracy, obstruction of justice, and introducing imported merchandise into the United States by means of false statements.
"Your honor, VW AG is pleading guilty to all three counts because it is guilty on all three counts," said Volkswagen general counsel Manfred Doess at the hearing.
As part of the plea deal, Volkswagen will pay $4.3 billion in penalties and have an independent monitor to oversee U.S. operations over the next three years. The deal also requires Volkswagen to continue cooperating with federal and state investigators.
A sentencing hearing has been scheduled for April 21st.
Source: Automotive News (Subscription Required), Reuters
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