Financial Fraud: Volkswagen AG Pleads Guilty In Conspiracy to Defraud the United States, Engage in Wire Fraud And Violate the Clean Air Act

<h2 id&equals;"node-title">Volkswagen AG Pleads Guilty in Connection with Conspiracy to Cheat U&period;S&period; Emissions Tests<&sol;h2>&NewLine;<div class&equals;"field field--name-field-pr-body field--type-text-long field--label-hidden">&NewLine;<div class&equals;"field&lowbar;&lowbar;items">&NewLine;<div class&equals;"field&lowbar;&lowbar;item even">&NewLine;<p>Volkswagen AG &lpar;VW&rpar; pleaded guilty in federal court in Detroit today to three felony counts charging&colon; &lpar;1&rpar; conspiracy to defraud the United States&comma; engage in wire fraud&comma; and violate the Clean Air Act&semi; &lpar;2&rpar; obstruction of justice&semi; and &lpar;3&rpar; importation of merchandise by means of false statements&period;  As part of the plea&comma; VW agreed to pay a &dollar;2&period;8 billion penalty as a result of the company’s decade-long scheme to sell diesel vehicles containing software designed to cheat on U&period;S&period; emissions tests&period;  In January 2017&comma; VW had agreed to plead guilty to resolve these criminal charges&period;<&sol;p>&NewLine;<div class&equals;"mh-content-ad"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js&quest;client&equals;ca-pub-9162800720558968"&NewLine; crossorigin&equals;"anonymous"><&sol;script>&NewLine;<ins class&equals;"adsbygoogle"&NewLine; style&equals;"display&colon;block&semi; text-align&colon;center&semi;"&NewLine; data-ad-layout&equals;"in-article"&NewLine; data-ad-format&equals;"fluid"&NewLine; data-ad-client&equals;"ca-pub-9162800720558968"&NewLine; data-ad-slot&equals;"1081854981"><&sol;ins>&NewLine;<script>&NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi;&NewLine;<&sol;script><&sol;div>&NewLine;<p>Acting Assistant Attorney General Kenneth A&period; Blanco of the Justice Department’s Criminal Division&comma; U&period;S&period; Attorney Barbara McQuade of the Eastern District of Michigan&comma; Deputy Assistant Attorney General Jean E&period; Williams of the Justice Department’s Environment and Natural Resources Division&comma; Special Agent in Charge Jeffrey Martinez of the Chicago Area Office of the Environmental Protection Agency’s Criminal Investigation Division &lpar;EPA-CID&rpar; and Special Agent in Charge David Gelios of the FBI Detroit Field Office&comma; made the announcement&period;<&sol;p>&NewLine;<p>VW pleaded guilty before U&period;S&period; District Judge Sean F&period; Cox of the Eastern District of Michigan&period;  Specifically&comma; VW pleaded guilty&comma; first&comma; to participating in a conspiracy to defraud the United States and VW’s U&period;S&period; customers and to violate the Clean Air Act by lying and misleading the EPA and U&period;S&period; customers about whether certain VW&comma; Audi and Porsche branded diesel vehicles complied with U&period;S&period; emissions standards&comma; using cheating software to circumvent the U&period;S&period; testing process and concealing material facts about its cheating from U&period;S&period; regulators&period;  Second&comma; VW pleaded guilty to obstruction of justice for destroying documents related to the scheme&period;  And third&comma; VW pleaded guilty to importing these cars into the United States by means of false statements about the vehicles’ compliance with emissions limits&period;  After accepting VW’s plea&comma; Judge Cox scheduled the company’s sentencing for April 21&comma; 2017&period;<&sol;p>&NewLine;<p>The FBI and EPA-CID investigated the case&period;  This case is being prosecuted by members of the Department of Justice’s Criminal Division&comma; Fraud Section&comma; including&colon; Chief of the Securities and <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;tag&sol;financial-fraud&sol;amp&sol;" title&equals;"Financial" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"718">Financial<&sol;a> Fraud Unit Benjamin D&period; Singer&comma; as well as Trial Attorneys David Fuhr&comma; Alison Anderson&comma; Christopher Fenton and Gary Winters&period;  Also prosecuting the case are members of the Department of Justice’s Environment and Natural Resources Division&comma; Environmental Crimes Section&comma; including&colon; Senior Trial Attorney Jennifer Blackwell&period;  Additionally&comma; the case is being prosecuted by members of the U&period;S&period; Attorney’s Office for the Eastern District of Michigan&comma; including Criminal Division Chief Mark Chutkow&comma; Economic Crimes Unit Chief John K&period; Neal and Assistant U&period;S&period; Attorney Timothy J&period; Wyse&period;  The Justice Department’s Office of International Affairs also assisted in the case&period;  The Justice Department extends its thanks to the Office of the Public Prosecutor in Braunschweig&comma; Germany&period;<&sol;p>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;<&sol;div>&NewLine;

Financial Fraud