Krones To Pay $125M In Deal Over Accounting Fraud

Law360, New York (November 8, 2012, 2:58 PM EST) -- Krones AG will pay $125 million as part of a nonprosecution agreement that resolves allegations about its involvement in an accounting fraud scheme that led to the collapse of Le-Nature's Inc., prosecutors said Thursday.

Under the terms of the agreement, the Neutraubling, Germany-based packaging and bottling machine manufacturer and its U.S. subsidiary, Krones Inc., will pay a $15 million penalty to the U.S. and will also pay restitution to various entities that his office claims suffered losses as a result of Krones' actions related to Le-Nature’s,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.