Another Exec Penalized for Auto Parts Price Fixing
The Department of Justice announced Dec. 1 the third penalty against an individual in the past week in the department’s long-running investigation of anticompetitive conduct in the global auto parts industry. An executive of a Japanese company has agreed to plead guilty, serve one year and one day in a U.S. prison, and pay a $20,000 criminal fine for his years-long participation in a conspiracy to fix prices of radiators installed in cars sold in the United States and elsewhere. The executive’s company pleaded guilty to similar charges in November 2013 and was sentenced to pay a $13.75 million criminal fine. A DOJ press release states that 48 individuals have now been charged in this investigation along with 32 companies that have pleaded guilty or agreed to plead guilty and agreed to pay a total of more than $2.4 billion in fines.