US says Toyota unit to plead guilty, pay over $1.6 billion to settle fraud scheme

WASHINGTON (Reuters) – A Toyota Motor (NYSE:TM) Corp unit agreed to plead guilty and pay over $1.6 billion in a settlement with U.S. government agencies to settle violations related to an emissions fraud scheme, the U.S. Justice Department said in a statement on Wednesday.

The Justice Department, FBI and Environmental Protection Agency, among other bodies, reached criminal and multiple civil resolutions with Toyota subsidiary Hino Motors, the Justice Department said.