Concern Fiat Chrysler is going to be fined for $ 70 million for statement fraud

Concern Fiat Chrysler is going to be fined for $ 70 million for statement fraud

11.12.2015 News

Concern Fiat Chrysler is going to be fined for $ 70 million for statement fraud One of the most famous car companies will get a multi-million fine for concealment of information in the financial statements for regulators.

The supervisory authorities in the US announced that they intend to impose a fine on US-Italian concern Fiat Chrysler in the amount of $ 70 million for a significant underestimation of the number of deaths, injuries and claims related to the potential defects of their vehicles on a mandatory report.

This year is the second multi-million dollar fine company associated with security problems in the machines. Fiat Chrysler was fined in July for $ 105 million for violation of a revocable campaign about cars and poor-quality repairs.

Representatives of the automaker declined to comment on the situation. Regulators claim that mistakes in the statement were done specially, and they are connected with the fact that Fiat Chrysler has defective equipment. National Agency for the safe movement of the United States insists on payment of a fine to the end of 2015.

In September 2015, the company admitted that it did not disclose all the information that was contained in the report to regulators.

Last month, for the same reason of inaccurate information in the report, regulators fined the Japanese automotive Takata Corp. for $ 70 million.

In the states, all the major car companies are required to provide reports to regulatory authorities that are related to traffic situations, mortality and claims, as well as any other information that is connected with cars of this brand. Such a law was passed in 2000 after it received information that about 270 people died due to defects in the the Ford brand cars.

Source: www.nytimes.com

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