Ford Pays $365 Million to Resolve Trade Fraud Allegations

The Department of Justice announced that Ford Motor Company agreed to pay the U.S. government $365 million to resolve allegations of Tariff Act of 1930 violations. According to the DOJ, the American automaker misclassified and understated the value of hundreds of thousands of its Transit Connect cargo vans.

U.S. Customs and Border Protection (CBP) official Troy A. Miller called the settlement one of the largest customs penalties in recent history.