April 6, 2017 / 8:17 PM / 4 months ago

U.S. judge to name former FBI director to oversee Takata restitution funds

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WASHINGTON, April 6 (Reuters) - A federal judge in Detroit said on Thursday he plans to name former FBI director Robert Mueller to oversee nearly $1 billion in Takata Corp restitution funds as part of a U.S. Justice Department settlement.

In January, Takata agreed to plead guilty to criminal wrongdoing and to pay $1 billion to resolve a federal investigation into its air bag inflators linked to at least 16 deaths worldwide.

As part of the settlement, Takata agreed to establish two independently administered restitution funds: one for $850 million to compensate automakers for recalls, and a $125 million fund for individuals physically injured by Takata's airbags who have not already reached a settlement. (Reporting by David Shepardson; Editing by Sandra Maler)

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