The Department of Justice is currently evaluating whether or not to charge General Motors with criminal wire fraud due to the company's failure to recall vehicles with faulty ignition switches. The Wall Street Journal has learned from sources federal prosecutors in New York are zoning in the wire-fraud charge due after it was determined that GM made misleading statements and concealed information about the faulty switch.
Sources go on to say the DOJ hopes to reach a settlement by late summer or early, though that could change. Prosecutors are also looking into other kinds of possible criminal charges.
When asked about the report, CEO Mary Barra said,
“It is their timeline. We are going to continue to cooperate to the fullest extent we can. But beyond that, I think anything else is pure speculation and it does no one any good.”
Barra confirmed that she spoke and fully cooperated with DOJ investigators last year about the ignition switch defect.