GM’s Cruise to pay $500,000 fine to DOJ, admits submitting false records
The Fly

GM’s Cruise to pay $500,000 fine to DOJ, admits submitting false records

GM’s Cruise LLC, an autonomous vehicle company based in San Francisco, has agreed to resolve a criminal charge in federal court for providing a false record to National Highway Traffic Safety Administration with the intent to impede, obstruct, or influence the investigation of a crash involving one of Cruise’s autonomous vehicles. A criminal information charges Cruise with the offense, which Cruise has agreed to resolve through a deferred prosecution agreement and payment of a $500,000 criminal fine. “Federal laws and regulations are in place to protect public safety on our roads. Companies with self-driving cars that seek to share our roads and crosswalks must be fully truthful in their reports to their regulators,” said Martha Boersch, Chief of the Office of the U.S. Attorney’s Criminal Division. The criminal information alleges that Cruise falsified records in a federal investigation under the jurisdiction of NHTSA within the U.S. Department of Transportation. The criminal investigation and prosecution against Cruise is being resolved with a deferred prosecution agreement in which Cruise admits and accepts responsibility for the charge in the information. Under the deferred prosecution agreement, Cruise is required to pay a $500,000 criminal fine, cooperate with government investigations, implement a Safety Compliance Program, and provide annual reports to the United States Attorney’s Office on implementation and remediation. If Cruise fails to completely perform or fulfill its obligations under the agreement during the agreement’s three-year term, the U.S. Attorney’s Office can proceed with prosecution of the charged offense.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App