Japanese auto parts manufacturer Takata Corporation pleaded guilty to federal wire fraud charges related to the sale of defective air bag inflators. The company agreed to pay $1 billion in criminal penalties, which includes a $25 million fine, $125 million for victims, and $850 million to reimburse automakers for recall expenses. The faulty inflators can explode with excessive force, a defect linked to at least 16 deaths and more than 180 injuries globally. This issue has resulted in the largest automotive recall in the history of the United States.
Read the full article: U.S. Dept. of Justice
Originally published by U.S. D.O.J. | Jan 13, 2017
