In an effort to end the four-year probe and prosecution by the U.S. Justice Department, it was announced on Wednesday that Toyota has reached a deal with the prosecution to pay a settlement of $1.2 billion. That settlement is the largest ever settlement levied at an automaker by the U.S. Government.

Under the settlement agreement, Toyota will have to admit to deceiving the American buyers of the two safety problems with their automobiles in addition to the record breaking monetary settlement. The automaker will also have to submit to a rigorous review by an independent monitor.

In exchange, the government will defer prosecution on the wire fraud charge leveled against the automaker for three years and at the end of that time, possibly dismiss the charges altogether if Toyota fulfills it end of the deal.

Attorney General Eric Holder said today, that “Toyota intentionally concealed information and misled the public.” He continued saying, “Toyota confronted a public-safety emergency as if it were a simple public-relations problem.”

“Other car companies should not repeat Toyota’s mistake: A recall may damage a company’s reputation, but deceiving your customers makes that damage far more lasting,” he said.

Holder accused the automaker of failing to promptly disclose information on the faults with their automobiles and to correct the safety issues and instead released misleading public statements as well as give inaccurate information to members of Congress.

The Japanese automaker initially blamed an all-weather floormat as the reason behind the unintended acceleration of its vehicles. Five people died because of the unintended acceleration. Dozens of other deaths could not be connected to the faulty vehicles the NTSB said after a study in 2011.

More than 10 million Toyotas were recalled over the issue in 2009 and 2010. Modifications were made to the vehicle and Toyota installed brake override systems into the vehicles. That same system is now standard in all newer models in Toyota’s line.

Toyota previously settled $1.6 billion worth of lawsuits brought against them by owners of their vehicles contending that the acceleration issue caused them economic losses in the value of their vehicles.

This does not signal an end to Toyota’s legal issues however. Toyota is still targetted in at least 400 additional federal and state lawsuits for the faulty acceleration issues with its autos. Those suits, many of which are still pending, claim unlawful death and personal injury.

The 12-page Statement of Facts released by the U.S. Department of Justice can be read here. (PDF)