Standard & Poor's Financial Services executives have agreed to settle an investigation into the firm's ratings practices last decade. The company has agreed to pay the Department of Justice and almost 20 states $1.375 billion. Tennessee will get $25 million of that amount. Check out the state's release here.
Pilot Flying J avoids prosecution related to its alleged diesel rebate fraud scheme, but does not avoid paying $92 million. The deal comes after the company also agreed to pay $85 million to a number of trucking companies.
According to a news release from the U.S. Attorney for Eastern Tennessee, the agreement “expressly states that it provides no protection from prosecution to any individual, and moreover, imposes a continuing obligation on Pilot to provide complete cooperation with the ongoing federal investigation of current and former Pilot employees relating to fraudulent conduct involving the sale of diesel fuel.”
Here's a letter from the DOJ detailing the agreement.
POSTDATA: WARRANTY DEEDS