Judge Approves VSI Penalties: A federal judge...
Judge Approves VSI Penalties: A federal judge in Seattle approved a settlement that requires VSI Corp., a leading maker of aerospace fasteners, to pay $4.2 million in criminal fines and restitution. Judge Barbara J. Rothstein approved a settlement reached last May under which VSI, a unit of Fairchild Corp., pleaded guilty to charges that workers at its Voi-Shan plant in Chatsworth falsified and omitted test results for nuts and bolts used in commercial and military aircraft. VSI also is paying $14.5 million in civil fines and related costs, including $2.2 million to three former VSI employees who reported the illegal practices to authorities.
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