US Declines To Join FCA Suit Over Chrysler, Fiat Deal

Law360, New York (December 19, 2012, 5:48 PM EST) -- Federal prosecutors declined Wednesday to intervene in a False Claims Act suit brought by a former Chrysler Group LLC executive accusing the carmaker of fraudulently decreasing the U.S. government's ownership interest in the company through a shady deal with part-owner Fiat SpA

U.S. Magistrate Judge Laurie J. Michelson ordered the unsealing of a complaint brought by former Chrysler of Venezuela Chief Financial Officer Elias Awad alleging Chrysler illegally sold its Colombian subsidiary as part of a deal to drive up Fiat's ownership interest in Chrysler. The...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.