US Attorney's Office Consider Charging General Motors With Criminal Wire Fraud
Federal prosecutors in New York are considering criminal wire fraud charges against General Motors over its role in the February 2014 ignition recall.
The U.S. Attorney’s Office for the Southern District of New York are also considering other charges against GM, though they hope to reach a settlement with the automaker by late summer or early fall of this year, Reuters reports.
The basis for the wire fraud claim is linked to the prosecutors’ findings suggesting GM possibly hid information about the defects in the ignition switches installed in 2.66 million vehicles made in the early through mid-2000s, as well as made misleading statements on the issue.
The yet-to-be-finalized action is one more legal action GM has on its plate, following numerous civil lawsuits, over 4,300 compensation claims, and an ongoing criminal probe set to conclude the interview phase by October.
As far as settlements with the government are concerned involving the wire fraud charge, CEO Mary Barra informed shareholders her company fully cooperated with the U.S. Attorney’s Office, and any settlements to be made would occur on the company’s timeline.
[Photo credit: John Marino/ Flickr/ CC BY-SA 2.0]
I'd like to know when the same laws that sent Bernie Madoff to prison will be used to put truly big-time crooks like Nancy Pelosi and Chuck Schumer behind bars. After all, Madoff defrauded Americans of only $65 billion. How many trillions have the Democratic party stolen from the American population, through the various laws they've passed over the decades?
Didn't this same thing happen in "The Firm", including mail fraud?