Picture of Archion logo

543A Archion News Story

0.000.00%
jp flag iconLast trade - 00:00
Consumer CyclicalsAdventurousMicro Cap

Toyota subsidiary Hino Motors penalized $1.6 billion over emissions fraud scheme, DOJ says

March 19 (Reuters) - A subsidiary of Japanese carmaker Toyota 7203.T faces $1.6 billion in penalties after pleading guilty to having engaged in a multi-year emissions fraud scheme, the U.S. Justice Department said in a statement on Wednesday.

     U.S. District Court Judge Mark A. Goldsmith for the Eastern District of Michigan accepted Hino Motors' guilty plea and sentenced the company to pay a fine of $521.76 million and serve a five-year term of probation during which it will be prohibited from importing diesel engines it has manufactured into the United States, the Justice Department said.

The court also entered a $1.087 billion forfeiture money judgment against the company, according to the Justice Department.

 (Reporting by Ryan Patrick Jones)

 ((ryan.jones@thomsonreuters.com;))

Recent news on Archion

See all news