Volkswagen emissions scandal: US Justice Department sends subpoena under bank fraud law
The company is in talks with the US Justice Department, EPA and CARB to decide a settlement plan
The US Justice Department has sent a subpoena to Volkswagen AG under a bank fraud law as a part of the ongoing diesel emissions probe. According to reports, the subpoena has been issued under the Financial Institutions Reform, Recovery and Enforcement Act. This is a 1989 law that the US government uses to investigate large financial institutions. This law allows the government's civil division to investigate fraud over the last ten years.
The company has declined to comment but said that they will continue co-operating with all the...
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