Volkswagen says agrees to pay $4.3 billion to resolve U.S. emissions troubles
BERLIN (Reuters) - Volkswagen (VOWG_p.DE: Quote) has agreed with the U.S. government to pay $4.3 billion in fines and penalties to resolve its diesel emissions troubles, it said in a statement on Wednesday.
As part of the settlement, Volkswagen has agreed to plead guilty to three felony counts under U.S. law: conspiracy to defraud the United States, commit wire fraud and violate the Clean Air Act; obstruction of justice; and entry of goods into the United States by false statement.
Volkswagen agreed to pay a criminal fine of $2.8 billion, and $1.45 billion to resolve U.S. federal environmental and customs-related civil claims.
"The agreements that we have reached with the U.S. government reflect our determination to address misconduct that went against all of the values Volkswagen holds so dear," Chief Executive Matthias Mueller said in an emailed statement published on Wednesday.
Separately, Volkswagen agreed to pay a civil penalty of $50 million to the Civil Division of the DOJ to settle potential claims asserted under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).
"Volkswagen specifically denies any liability and expressly disputes these claims, which it is settling to avoid the uncertainty and expense of protracted litigation," it said in relation to the FIRREA penalty.
(This version of the story was corrected to make clear that denial of liability applies only to the FIRREA civil penalty, paragraphs 5 and 6)
(Reporting by Andreas Cremer; Editing by Georgina Prodhan)
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