Recently, the wholly-owned financial department of Volkswagen Group of America has agreed to pay US$48.75 million (approximately 350 million RMB) to the SEC (U.S. Securities and Exchange Commission) to resolve the government’s Allegations against the company regarding “Dieselgate”. It is reported that US$34.35 million of this money is a penalty, and the remaining US$14.4 million is interest. The SEC will distribute the latter to investors who purchased the company’s bonds in 2014-2015.
“The model involved in the emissions scandal is the Jetta (referred to as Sagitar in China)”
Volkswagen Group admitted in 2015 that it installed “defeat devices” and sophisticated software in nearly 11 million vehicles worldwide to cheat emissions tests, and has since paid more than $20 billion in fines, penalties and settlements. gold. The SEC filed a civil lawsuit in March 2019 accusing Volkswagen, two subsidiaries and Winterkorn of defrauding investors. As part of a $4.3 billion settlement with the U.S. Department of Justice, Volkswagen admitted violations in the United States and offered to buy back about 500,000 vehicles in the United States that did not meet emissions standards.
The settlement agreement reached by the SEC and Volkswagen Group U.S. Finance Company submitted on March 15 was the last major legal action in the United States related to the Volkswagen diesel emissions scandal, which means that the case has finally settled. The settlement is currently awaiting approval from a U.S. judge in San Francisco. Volkswagen’s financial department neither admitted nor denied the SEC’s allegations. After the settlement, the SEC will drop its lawsuit against Volkswagen and Winterkorn.
