Executive Gets Criminal Fine, Prison Time for Auto Parts Price Fixing
The Department of Justice announced June 30 that an executive of a Japan-based company has agreed to pay a $20,000 criminal fine and serve one year and one day in a U.S. prison for his participation in a conspiracy to fix the prices of instrument panel clusters installed in cars sold in the U.S. and elsewhere. Instrument panel clusters are the mounted array of instruments and gauges housed in front of the driver of an automobile.
DOJ notes that the executive’s parent company was previously sentenced to a $78 million criminal fine and that six of the company’s executives have now been convicted in the department’s investigation into price fixing and bid rigging in the auto parts industry. To date that investigation has resulted in 36 individuals being charged and 27 companies pleading guilty or agreeing to plead guilty and being assessed over $2.3 billion in fines.