Volkswagen AG (VW or Volkswagen) plead guilty to three criminal felony counts and will pay $4.3 billion in penalties for it's role in the diesel emissions scandal, a nearly 10-year-long conspiracy to cheat U.S. emissions tests.

Volkswagen will also be on probation, with an "independent corporate compliance monitor" overseeing the company for the next three years.

VW was formally charged with:

• participating in a conspiracy to defraud the United States, VW’s U.S. customers, and violating the Clean Air Act,
• obstruction of justice for destroying documents related to the scheme,
• a separate crime of importing the cars into the U.S. by means of false statements about the vehicles’ compliance with emissions limits.

$2.8 billion will be paid in criminal penalty as a result of the company's involvement, and, in a separate civil resolution, Volkswagen also agreed to pay $1.5 billion for violations against the Environmental Protection Agency (EPA), U.S. Customs and Border Protection (CBP), and the Financial Institution Reform, Recovery and Enforcement Act (FIRREA).

In order to pay these expectantly high penalties, VW cut 30K jobs earlier this year. 

"Volkswagen’s attempts to dodge emissions standards and import falsely certified vehicles into the country represent an egregious violation of our nation’s environmental, consumer protection and financial laws,” said Attorney General Lynch. “Today’s actions reflect the Justice Department’s steadfast commitment to defending consumers, protecting our environment and our financial system and holding individuals and companies accountable for corporate wrongdoing. In the days ahead, we will continue to examine Volkswagen’s attempts to mislead consumers and deceive the government. And we will continue to pursue the individuals responsible for orchestrating this damaging conspiracy.”

Furthermore, the following six German Volkswagen executives have been charged for their connection in the conspiracy to cheat U.S. emissions tests by the U.S. Department of Justice: Heinz-Jakob Neusser, Jens Hadler, Richard Dorenkamp, Bernd Gottweis, Oliver Schmidt and Jürgen Peter.

Each of the six are charged with one count of conspiracy to defraud the United States, VW customers and violations of the Clean Air Act. Dorenkamp, Neusser, Schmidt and Peter are also charged with additional Clean Air Act violations. Neusser, Gottweis, Schmidt and Peter are also charge with wire fraud counts.