Volkswagen pleads guilty in emissions scandal

DETROIT, Michigan (WDEF) Volkswagen AG officially pleads guilty to three fraud counts in a plea deal with the Justice Department.

The company has agreed to pay $4.3 billion dollars in the deal.

The charges were conspiracy to commit fraud, obstruction of justice and entery of goods by false statement charges.

“Your honor, VW AG is pleading guilty to all three counts because it is guilty on all three counts,” Doess told the court.

The company has agreed to sweeping reforms in the plea deal, that will affect operations in Chattanooga.

An independent monitor will watch over their operations for the next three years.

U.S. prosecutors called the emissions software scheme a well thought out, planned offensive that went to the top of the company.

They have also filed charges against 7 VW employees, and German prosecutors are also still investigating.

The company has now agreed to pay out a total of $25 billion dollars to address the issues in the United States.