January 12, 2017

EMISSIONS CHEAT: Six Volkswagen Executives Indicted by Department of Justice.

A federal grand jury in the Eastern District of Michigan returned an indictment today, fingering the execs for playing key roles in a decade-long conspiracy to deceive the U.S. government and public. While five of the men live in Germany, one man — Oliver Schmidt, former head of VW’s regulatory compliance department — was nabbed by the FBI in a Miami airport on Saturday while attempting to return to Germany.

As the charges were handed down, the embattled automaker pleaded guilty to three criminal federal counts and agreed to pay $4.3 billion in criminal and civil penalties.

It will be interesting to see if Germany agrees to extradite the other five.