Volkswagen Announces Settlement Regarding U.S. Criminal Probe

Volkswagen expects to pay another $4.3 billion in order to resolve a criminal investigation into its diesel emissions scandal. 
 
The German automaker on Tuesday announced that the draft settlement agreement, reached with the federal Justice Department and U.S. Customs and Border Protection, called for the company to plead guilty to select criminal charges. 
 
The financial penalty includes criminal and civil fines; it would also require the appointment of an independent compliance monitor for three years. 
 
VW officials indicated earlier in the week that they hoped to settle the criminal probe in the U.S., which would be its final major legal obstacle in the country stemming from the diesel scandal. 
 
The company previously agreed to civil settlements to repair or buy back vehicles equipped with software to manipulate their emissions levels during official testing. A $14.7 billion settlement to address cars with 2.0-liter engines was reached in October, while another deal regarding 3.0-liter engines was announced last month. 
 
The criminal investigation settlement is subject to approval by company board members, as well as prosecutors and the court.  
 
VW acknowledged that the latest deal's price tag would exceed the amount set aside by the company to deal with the scandal, but that its impact on its financial totals “cannot be defined at present due to its dependency on various further factors.”