GM Reportedly To Face Criminal Charges Over Ignition Switches

(RTTNews) - Federal prosecutors are closing in on criminal charges against General Motors Co. (GM) over a faulty ignition switch linked to more than 100 deaths, but they are still weighing whether to charge individual employees, the Wall Street Journal reported citing people familiar with the matter.

The report said that the Manhattan U.S. attorney's office has determined GM likely broke the law by making misstatements about the ignition-switch glitch in older Chevrolet Cobalts and other cars for more than a decade and will likely extract a fine exceeding $1 billion from the company. GM will either plead guilty or enter a so-called deferred-prosecution agreement.

A deferred-prosecution agreement would mean the company would face charges that would be suspended and ultimately dismissed if it abides with prosecutors' terms.

GM recalled 2.6 million vehicles in 2014 over problems with the ignition switch. GM reportedly had knowledge of the serious defect as early as 2001.