Toyota settles for $1.2B, faces criminal charge

By Eric Tucker Associated Press writer

Posted March 19, 2014 2:41 PM

WASHINGTON — The government announced a $1.2 billion settlement with Toyota Motor Corp. today and filed a criminal charge alleging the company defrauded consumers by issuing misleading statements about safety issues in Toyota and Lexus vehicles. Attorney General Eric Holder said it is the largest financial penalty of its kind ever imposed on an auto company. Under a deferred prosecution agreement, an independent monitor will review policies, practices and procedures at the company. The action concludes a four …

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