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Category Archives: litigation
Tokyo Based Fujikura Guilty of Auto Parts Price Fixing
To date, including Fujikura, eight executives and five companies have been charged and have pled guilty in the department’s ongoing antitrust investigation into the auto parts industry. Three of the companies have pleaded guilty and have been sentenced to pay criminal fines totaling more than $748 million. Seven of the executives have pleaded guilty and have been sentenced to serve a total of more than 122 months in jail. Continue reading
Posted in auto news, fools 'n frauds, litigation, people, prices
Tagged antitrust, auto informed, autoinformed.com, automotive news, doj, fujikura, Ken Zino, price fixing, sherman act
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Former BP Engineer Arrested for Obstruction of Justice in Ongoing Deepwater Horizon Criminal Investigation
It was the first of what could become many criminal charges to be filed because of the environmental destruction caused by a huge oil spill in the Gulf of Mexico. BP said “We will not comment on the Government’s case against former BP employee Kurt Mix and we will continue cooperating in the Department of Justice’s investigation.” Continue reading
Posted in auto news, energy, environment, litigation, news, people, transportation
Tagged auto informed, autoinformed.com, automotive news, bp, deepwater horizon, Ken Zino, Macondo well blowout, oil spills
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Hapless SEC Sues AutoChina for Alleged Stock Manipulation
AutoChina (OTC: AUTCF), China’s largest commercial vehicle sales, servicing, leasing, and company said the SEC’s complaint is without merit, thereby setting up an intricate and lengthy court battle with the watchdog that does not bark. SEC claimed that AutoChina senior executive and director Hui Kai Yan, a former AutoChina manager, and others fraudulently traded AutoChina’s stock to boost its daily trading volume. Continue reading
Posted in auto news, fools 'n frauds, litigation, news, news analysis, people
Tagged auto informed, autochina, autoinformed.com, automotive news, Ken Zino, sec, stock manipulation
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Justice Department Seizes Counterfeit Chinese Sports Jerseys
The Department of Justice has seized more than $896,000 in proceeds from the distribution of Chinese made counterfeit sports apparel and jerseys as the result of an investigation into the sale of bogus goods on commercial websites. The individuals involved, based in China, sold counterfeit professional and collegiate sports apparel, primarily counterfeit sports jerseys. Continue reading
G.S. Electech Guilty of Price Fixing Auto Parts
Including G.S. Electech, eight executives and four companies have now been charged and have agreed to plead guilty in the ongoing price fixing investigation so far. Three of the companies have pleaded guilty and have been sentenced to pay criminal fines totaling more than $748 million. Seven of the executives have pleaded guilty and have been sentenced to serve a total of more than 122 months in jail. Continue reading
Posted in auto news, litigation, news, results
Tagged auto informed, auto parts price fixing, autoinformed.com, automotive news, doj, g.s. electech, Ken Zino, price fixing, sherman act
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Ruling against Chevron in $18 Billion Toxic Oil Waste Case
In February 2011, after an eight-year trial that produced 220,000 pages of evidence, an Ecuador court found Chevron liable for deliberately dumping more than 16 billion gallons of toxic waste into Amazon waterways when it operated in Ecuador from 1964 to 1992 under the Texaco brand. The dumping severely hurt indigenous groups and caused an outbreak of cancer and other diseases, according to the evidence. Continue reading
Posted in litigation, news, news analysis, people, results, safety, transportation
Tagged amazon rain forest, auto informed, autoinformed.com, automotive news, chevron, Ken Zino, oil spills, oriente, texaco
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DENSO Exec Pleads Guilty to Price Fixing on Auto Parts
The plea agreement, which is subject to court approval, requires Imai serve one year and one day in a U.S. prison, to pay a $20,000 criminal fine and to cooperate with the department’s ongoing investigation. Imai is charged with price fixing in violation of the Sherman Act, which normally carries a maximum sentence of 10 years in prison and a $1 million or greater criminal fine for individuals. Continue reading
BizJet Pays $11.8 M Fine under Foreign Corrupt Practices Act
BizJet International Sales and Support will pay an $11.8 million criminal penalty to resolve charges under the Foreign Corrupt Practices Act for bribing government officials. The Tulsa, Oklahoma-based aircraft maintenance company with links to Lufthansa was under investigation by the Department of Justice for bribing government officials in Latin America to secure contracts to perform aircraft services for government agencies. Continue reading
Posted in aviation, litigation, news, news analysis, people, results, transportation
Tagged auto informed, autoinformed.com, automotive news, bizjet, doj, Foreign Corrupt Practices Act, Ken Zino, Lufthansa
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Kansas Refinery to pay $1 Million Fine for Pollution Violations
Coffeyville Resources Refining & Marketing (CRRM) will pay a civil penalty of more than $970,000 and invest more than $4.25 million on new pollution controls and $6.5 million in operating costs to end violations of air, superfund and community right-to-know laws at its Coffeyville, Kansas refinery. CRRM’s refinery has the capacity to refine more than 115,000 barrels of crude oil per day, producing gasoline, diesel fuels and propane. Continue reading
Chairman of Taiwan Auto Light Maker Guilty of Price Fixing
Five individuals and four corporations have been charged by the Antitrust Division of the Department of Justice. Continue reading
Posted in aftermarket, auto news, litigation
Tagged aftermarket, antitrust, auto informed, autoinformed.com, automotive news, depo auto parts, doj, Ken Zino, price fixing
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Cramming, the Latest Assault on Your Privacy and Pocketbook
The latest scam in our largely unregulated computerized world is ‘cramming,’ a criminal practice that imposes small charges on your phone bill for false services or products. The root cause is the lack of adequate security at phone companies, which allow thieves to corrupt the billing system and arrange for fraudulent charges. Continue reading
Posted in fools 'n frauds, litigation, news
Tagged auto informed, autoinformed.com, automotive news, cramming, department of justice, doj, fcc, internet privacy, Ken Zino, phone fraud
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$90 Million MOEX Settlement for Deepwater Horizon Oil Spill
As part of the settlement, MOEX will spend $20 million for land acquisition projects in several Gulf States that will preserve in perpetuity habitat and resources important to water quality. MOEX has also agreed to pay $70 million in civil penalties, of which, $45 million will go to the United States. This is the largest civil penalty ever recovered under the Clean Water Act. Continue reading
Posted in auto news, environment, litigation, news
Tagged auto informed, autoinformed.com, automotive news m deepwater horizon, bp, doj, epa, Ken Zino, Macondo well, moex
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Energy Conversion Devices Files Chapter 11, Sells Ovonic Battery. Common Stock to Be Worthless Under Reorganization
OBC was the inventor and worldwide licensor of nickel-metal hydride (NiMH) rechargeable battery technology, but the cancellation of GM’s EV1, which used the batteries, and the building of a NiMH battery factory in Ohio, which was never used, severely hurt the company, which had a record of obtaining research grants and licensing patents, but was ultimately never able to profitably commercialize its advanced technologies. Continue reading
BMW Follows Toyota by Paying $3 Million Fine for not Reporting Known Safety Defects within Five Days to NHTSA
The National Highway Traffic Safety Administration (NHTSA) has levied a $3 million fine on BMW of North America, after the German automaker failed to comply with requirements of the National Traffic and Motor Vehicle Safety Act that BMW report safety defects and so called non-compliances to the federal government in a timely manner. Continue reading
Posted in auto news, litigation, recalls, safety
Tagged auto informed, auto safety, autoinformed.com, automotive news, bmw recall fines, bmw recalls, Ken Zino, nhtsa
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