Feds Investigating Fiat Chrysler for Alleged Sales Fraud
Feds examining whether Fiat Chrysler inflated sales figures to make company look better off financially than it is.
The federal government is investigating whether Fiat Chrysler Automobiles is artificially inflating its sales figures.
Officials with Fiat Chrysler report the automaker sold more vehicles last month than in any June in almost a dozen years.
But federal officials are questioning if such sales reports are accurate.
The U.S. Securities and Exchange Commission and the U.S. Justice Department are investigating if Fiat Chrysler is manipulating its sales figures, which stockholders often examine to help judge the worth of investing in a company.
In January two Fiat Chrysler dealers filed a civil racketeering lawsuit against the company accusing it of paying certain dealerships to report inaccurate sales figures in order to make it look as if the automaker is doing better financially than it really is.
Fiat Chrysler officials strongly deny the charges and say they are cooperating with the federal investigations.
