Volkswagen’s Oliver Schmidt jailed for seven years for emissions scam

Oliver Schmidt, a US-based Volkswagen AG executive sentenced to seven years in prison and fined $400,000 over the diesel emissions scandal that has already cost Volkswagen close to $30 Billion.

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U.S. prosecutors have charged eight Volkswagen executives to date. Some of those are still currently with Volkswagen. Of the eight charged, six remain at large.

The emissions scandal that started back in 2015 had a surprising development with the US based Volkswagen AG executive Oliver Schmidt being sentence to seven years in prison and fined $400,000 by judge Sean Cox. This is a lot less than the maximum sentence Mr Schmidt could have faced of over 160 years.

Schmidt broke down while reading his written statement in court acknowledging his guilt and the impact this has on his family.

“I made bad decisions and for that I am sorry,” he said.

U.S. District Judge Sean Cox stated “It is my opinion that you are a key conspirator in this scheme to defraud the United States,”

Volkswagen pleaded guilty back in March admitting they installed software in vehicles to elude the emissions tests.

 

It has been reported that thousands of Volkswagen owners have suffered loss of power due to the emissions fix put in place by Volkswagen. There have been reports of class actions being arranged due to loss of power and increased fuel consumption.

With the reports of decrease in power and the increase in fuel consumption the Australian Volkswagen customers appear to have grounds for a refund under the Australian Consumer Law, based on the fuel consumption stats advertised by Volkswagen.