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Auto Parts Price Fixing Probe Rolls On with Fines, Jail Time for Two Executives

Thursday, May 23, 2013
Sandler, Travis & Rosenberg Trade Report

The Department of Justice announced May 21 that two executives of an auto parts company will each pay a $20,000 criminal fine and serve at least 15 months in prison for their roles in international conspiracies to fix prices and rig bids of certain automotive components installed in U.S. cars. A DOJ press release notes that nine companies and 14 executives have so far pleaded guilty or agreed to plead guilty in the department's ongoing investigation of this scheme. The companies have been fined a total of more than $809 million (including $78 million for the company of the two men fined this week) and 12 individuals have been sentenced to jail terms of 12 to 24 months.

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