3 Takata workers indicted, accused of hiding air bag defects

Image
AP Detroit
Last Updated : Jan 14 2017 | 12:22 AM IST
Three former employees of Takata Corp. Have been indicted by a federal grand jury on charges of concealing defects in the company's air bag inflators.
The indictments on six counts of conspiracy and wire fraud were unsealed today, just hours ahead of a Justice Department news conference to announce a corporate penalty against the Japanese company.
Takata air bag inflators can explode with too much force, spewing metal shrapnel into drivers and passengers.
At least 16 people have been killed worldwide and more than 180 injured. The faulty inflators have touched off the largest automotive recall in US history involving 42 million vehicles and 69 million inflators.
Multiple news outlets have reported that Takata will pay around a USD 1 billion penalty.
The FBI has been investigating allegations that the company deceived federal regulators and tried to cover up the air bag problems.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 14 2017 | 12:22 AM IST

Next Story