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Das loot! $4.3B fine set for VW

NY Daily NewsAP
FRANKFURT, Germany -- Volkswagen said Tuesday that it was in "advanced talks" with U.S. authorities over a proposed settlement in its diesel emissions scandal under which the company would pay $4.3 billion in criminal and civil fines.
The draft settlement with the Department of Justice and Customs and Border Protection would include the appointment of an independent monitor to oversee the company's compliance and control measures for three years.
A company statement issued Tuesday said Volkswagen would agree to "a guilty plea" to criminal law provisions.
The draft needs approval from the carmaker's boards and U.S. courts. The company admitted equipping diesel cars with software that turned emissions controls up when the car was being tested and down during normal driving, improving engine performance but exceedinge mission limits.
Volkswagen has reached a $15 billion civil settlement with authorities and car owners in the U.S. under which it agreed to buy back up to 500,000 vehicles. The company also faces an investor lawsuit and criminal probe in Germany. In all, some 11 million vehicles worldwide were equipped with the software.
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