Topics

Auburn Tigers

Feds probe Fiat Chrysler over alleged false sales reports

Federal prosecutors are investigating allegations that Fiat Chrysler violated securities laws by getting dealers to falsely report sales of new cars in order to inflate the company's numbers.

The company confirmed Monday that it is cooperating with investigations by the Justice Department and the Securities and Exchange Commission.

The probe apparently stems from a lawsuit filed in January by the Illinois-based Napleton dealership group alleging that competing dealers were given thousands of dollars to report false sales. The group alleges that an FCA executive offered Napleton $20,000 to falsely report sales of 40 new vehicles. The lawsuit also alleges that the false...

81°