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Tag Archives: auto parts price fixing
Nippon Seiki to Plead Guilt of Price Fixing on Instrument Panels
Nagoka, Japan-based Nippon Seiki Company has agreed to plead guilty and to pay a $1 million criminal fine for its role in a conspiracy to fix prices of instrument panel clusters installed in cars sold in the United States and elsewhere, the Department of Justice announced today. Including Nippon Seiki, eight companies and 11 executives – most of them Japanese – have been charged in the department’s ongoing investigation into price fixing and bid rigging in the auto parts industry. Continue reading
Posted in auto news, fools 'n frauds, litigation, news, people
Tagged auto informed, auto parts price fixing, autoinformed.com, automotive news, bid rigging, doj, Ken Zino, Nippon Seiki, price fxing
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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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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
