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Volkswagen agrees to plead guilty to the emissions scandal and to pay $4.3 billion in penalties. Six Volkswagen executives are charged. [14] [15] 3 May 2018: Ex-CEO Winterkorn is indicted on fraud and conspiracy charges in the US [16] 18 June 2018: In connection with the case, Audi CEO Rupert Stadler is arrested in Germany. [17] 16 October 2018
Volkswagen emissions violations, fraud in diesel motors pollution measurements David Wittig "looting" scandals Xerox [ 8 ] [ 10 ] alleged accounting irregularities involving auditor KPMG , causing restatement of financial results for the years 1997 through 2000 and fines for both companies [ 7 ]
The 2009 Volkswagen Jetta Diesel Sedan was awarded Green Car of the Year.The award was rescinded in early October 2015. On 18 September 2015, the United States Environmental Protection Agency (EPA) said beginning in 2008 the car maker fraudulently installed engine control unit (ECU) software determined to be a "defeat device", in violation of the Clean Air Act, to circumvent environmental ...
A month earlier, the company's internal auditors discovered over $3.8 billion in illicit accounting entries intended to mask WorldCom's dwindling earnings, which was by itself more than the accounting fraud uncovered at Enron less than a year earlier. [109] Ultimately, WorldCom admitted to inflating its assets by $11 billion. [110]
In 2022, the company's founder, Trevon Milton, was found guilty of lying to investors and convicted of fraud. In 2023, it published a report accusing the Adani group of decades of "brazen' stock ...
BF Borgers, Trump Media & Technology Group’s independent accounting firm, was charged by the Securities and Exchange Commission on Friday with widespread fraud impacting more than 1,500 filings.
The Volkswagen TDI diesel emissions case is not the first use of defeat devices by Volkswagen or other automakers nor the first time automakers have taken advantage of their foreknowledge of the specific lab test conditions in order to engage emissions controls only during testing, but not during normal driving. [65]
Samsung Electronics Chairman Jay Y. Lee was found not guilty of accounting fraud and stock manipulation by a Seoul appeals court on Monday, in a ruling that could remove long-running legal risks ...