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Volkswagen Pleads Guilty, Will Pay $4.3B for Emissions Cheating

Mark Blinch/Reuters

Volkswagen on Wednesday pleaded guilty to three charges and will have to pay a $4.3 billion penalty for the scandal involving emissions cheating and a wide-ranging cover-up. According to a Department of Justice press release, the company agreed to admit it committed three felonies in its scheme to sell 590,000 diesel vehicles in the United States by cheating on emissions tests required by the EPA and the California Air Resources Board, in addition to obstructing justice and lying.