The U.S. District Court in Detroit just sentenced the Volkswagen executive who tried to cheat environmental regulations.
Oliver Schmidt was sentenced to seven years in the clink and $400,000 in fines.
Schmidt masterminded the software that hid Volkswagen vehicles’ true emissions data from regulators.
Despite a claim that he was simply following management’s “script,” the judge hit him with the maximum sentence. Reports The Verge:
[Schmidt] argued that he was following a script written by the company’s management and one of its lawyers when he lied to the California Air Resources Board about the compliance of VW’s cars with U.S. regulations and that he had come on board after the scheme was devised.
Of course, sadly, no one can put money back into the pockets of shareholders.
Given such a reality, trusting the ethics of a company’s executives becomes a risk we assume as investors.
But one man I trust implicitly is Jim Rickards, and his latest opportunity is truly mind-blowing.
Many fear that America’s $20.4 trillion debt crisis is more worrisome than ever. Yet the president recently said that stock market gains offset the national debt. Could this actually be accurate? Let’s dig in… Read more »
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It’s report card time. Roughly 1,100 companies have reported third-quarter earnings. The data so far suggest that the market has reached the upper limit on prices. Who made the honor roll? Who’s being disruptive? And who just flunked out? Let’s find out… Read more »
Believe it or not, online gambling is a $40 billion industry and growing fast. The industry’s expansion is absolutely insane. Take a look at this chart to see what I mean. It’s just further proof that when charts go insane, profits aren’t far behind… Read more »
Snap’s viability as a social media platform is quickly waning. Shares have been in free fall since IPO-ing in March and there’s no telling how far they can fall. Need more proof? Here are three ticking time bombs buried deep inside Snap. Read more »