Four former Volkswagen executives were sentenced Monday for orchestrating the diesel emissions cheating scandal that cost the automaker over $30 billion, according to The New York Post. A German court in Braunschweig found them guilty of serious fraud after a three-year trial. Managers involved in diesel engine development, electronics, components, and emissions received varying prison and suspended sentences for their roles in the emissions fraud scheme. The presiding judge described the group as a “gang” engaged in “particularly serious” fraud. More than 30 former employees still face charges. Volkswagen has admitted to embedding software that activated emissions controls during tests but disabled them in regular driving, allowing the vehicles to emit illegal pollution levels.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Four former Volkswagen executives were sentenced Monday for orchestrating the diesel emissions cheating scandal
00:07cost the automaker over $30 billion, according to New York Post.
00:11German court in Braunschweig found them guilty of serious fraud after a three-year trial.
00:16Managers involved in diesel engine development, electronics, components, and emissions
00:20received varying prison and suspended sentences for their roles in the emissions fraud scheme.
00:25The presiding judge described the group as a gang engaged in particularly serious fraud.
00:28More than 30 former employees still face charges.
00:32Volkswagen has admitted to embedding software that activated emissions controls during tests
00:36that disabled them in regular driving, allowing the vehicles to emit legal levels of pollution.
00:40For all things money, visit Benzinga.com slash GSTV.