Back in May of last year we wrote an update story about a scandal that had enveloped the United Auto Workers (UAW) Union in Detroit with relation to a scheme to misappropriate funds from FIAT Chrysler (FCA) and the Government. It was focused on a training centre and several union officials and FCA finance employees were caught flashing the cash. Millions of dollars were spread … [Read more...]
Update on FCA UAW Embezzlement Scandal
Back in 2009, during the Global Financial Crisis, Chrysler filed for bankruptcy protection and quickly emerged from it with some new owners: the United Auto Workers Union (UAW) Pension Fund, FIAT (with 20%), the US Government and the Canadian Government. Gradually, over the next few years FIAT increased their stake by buying out all of the partners so that they owned the whole … [Read more...]
