For the second time in one week federal authorities have taken the rare step of bringing criminal charges against auto industry executives for alleged wrongdoing. Today, the Justice Department announced criminal indictments against a trio of execs at auto parts maker Takata for their involvement with the shrapnel-shooting airbags that have been linked to at least 11 deaths. [More]
The Great Peanut Butter Recall of 2007 affected peanut butter sold under the Peter Pan and Great Value brands. The company pleaded guilty to criminal charges of the introduction into interstate commerce of adulterated food, and has finally been sentenced. As announced last year, it must pay an $8 million fine and forfeit more than $3 million in assets. [More]
Volkswagen recently agreed to pay $15 billion to settle some of the allegations involving the carmaker’s use of so-called “defeat devices” to cheat on emissions tests in diesel cars, but a new report says federal criminal charges could be in the offing for VW. [More]
Federal prosecutors are poised to settle a criminal investigation into General Motor’s mishandling of the ignition switch defect linked to more than 120 deaths and hundreds of injuries. [More]
Bankrupt for-profit college chain Corinthian Colleges Inc. is already party to a number of state and federal investigations related to the alleged deceptive recruiting practices at its Heald College, WyoTech and Everest University campuses. Now, a group of senators are hoping to add another investigation to the roster. [More]
Life isn’t always easy for one-percenters. Every now and again, high-profile white collar criminals get pinched by the legal system. The former head of a management consultant group is expected to face criminal charges for allegedly sharing inside information from Goldman Sachs board meetings to a hedge fund manager.