VW pleads guilty

Volkswagen has pleaded guilty to fraud, obstruction of justice and falsifying statements as part of a £3.5bn settlement reached with the US Justice Department over the diesel emissions scandal.

VW general counsel Manfred Doess told a court in Detroit the company was, ‘guilty on all three counts’ and is the first time the company has pleaded guilty to criminal conduct in any court in the world. He said the criminal acts occurred in both Germany and the US.

US district judge, Sean Cox accepted the company’s guilty plea on all three counts and set a 21 April sentencing date, where he must decide whether to approve the terms of the plea agreement.

VW has agreed to spend up to $10bn to buy back diesels that emit up to 40 times legally allowable pollution, along with at least $5,100 per owner in additional compensation.