The U.S. Department of Justice (DOJ) has announced that one of the world’s largest suppliers of automotive safety-related equipment, pleaded guilty to one count of wire fraud and was sentenced to pay a total of $1 billion in criminal penalties stemming from the company’s conduct in relation to sales of defective airbag inflators.
According to admissions made during the course of the guilty plea, from 2000 through and including 2015, the company carried out a scheme to defraud its customers and auto manufacturers by providing false and manipulated airbag inflator test data that made the performance of the company’s airbag inflators appear better than it actually was. Even after the inflators began to experience repeated problems in the field – including ruptures causing injuries and deaths – company executives continued to withhold the true and accurate inflator test information and data from their customers.
To learn the identiy of the company or to read the entire DOJ Press Release please follow this link: $1B Criminal Penalty
According to admissions made during the course of the guilty plea, from 2000 through and including 2015, the company carried out a scheme to defraud its customers and auto manufacturers by providing false and manipulated airbag inflator test data that made the performance of the company’s airbag inflators appear better than it actually was. Even after the inflators began to experience repeated problems in the field – including ruptures causing injuries and deaths – company executives continued to withhold the true and accurate inflator test information and data from their customers.
To learn the identiy of the company or to read the entire DOJ Press Release please follow this link: $1B Criminal Penalty
