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

Overdrive March 10, 2016 08:00:50 IST
Volkswagen emissions scandal: US Justice Department sends subpoena under bank fraud law

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...

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Volkswagen India’s letter to employees hints of a massive layoff
Auto

Volkswagen India’s letter to employees hints of a massive layoff

Volkswagen might hold back its future investment plans in India

Volkswagen emissions scandal: U.S. state of Kentucky sues Volkswagen AG
Auto

Volkswagen emissions scandal: U.S. state of Kentucky sues Volkswagen AG

Attorney General of Kentucky is suing Volkswagen AG for violating the state’s Consumer Protection Act

Volkswagen to compensate US customers for diesel emissions scandal
Auto

Volkswagen to compensate US customers for diesel emissions scandal

Due to differences between the brand and the authorities, the claims will take more than 60 to 90 days to settle, says VW-appointed attorney