US Justice Dept finds criminal wrongdoing in GM ignition switch defect

New York Times reports a settlement could be reached as soon as this summer

US Justice Department investigators have identified criminal wrongdoing in General Motors Co's failure to disclose a defective ignition switch, and they are negotiating what is expected to be a record penalty, the New York Times reported on Friday.

Citing people briefed on the inquiry, the Times said a settlement could be reached as soon as this summer. The final number is still being negotiated, but it is expected to exceed the $1.2 billion paid last year by Toyota for concealing unintended acceleration problems, according to the newspaper.