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Go to - FDNC NEWS FORUMS > Australian Business & Financial News > Volkswagen executive gets seven years jail

Posted by: Flin Dec 7 2017, 09:16 AM
Volkswagen executive gets seven years jail over emissions fraud
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A US-based Volkswagen AG executive who oversaw emissions issues has been sentenced to seven years in prison and fined $US400,000 for his role in a diesel emissions scandal that has cost the German automaker as much as $US30 billion.

The prison sentence and fine for the executive, Oliver Schmidt, were the maximum possible under a plea deal that the German national struck with prosecutors in August after admitting to charges of conspiring to mislead US regulators and violate clean-air laws.

"It is my opinion that you are a key conspirator in this scheme to defraud the United States," US district judge Sean Cox of Detroit told Schmidt in court.

Schmidt read a written statement in court acknowledging his guilt and broke down when discussing his family's sacrifices on his behalf since his arrest in January.

"I made bad decisions and for that I am sorry," he said.

US Department of Justice trial attorney Benjamin Singer argued in court that Schmidt was "part of the decision making process" at VW to hide a scheme to fake vehicle emissions results and had opportunities tell regulators the truth.

"Every time he chose to lie," Mr Singer said.

Too bad for Schmidt that he wasn't tried over here, cause the SOOOOWEEE defence would have kept him out of jail.

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