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Former Auto Parts Company Exec Gets Prison Term, Criminal Fine for Price Fixing

Wednesday, December 03, 2014
Sandler, Travis & Rosenberg Trade Report

The Department of Justice announced Dec. 1 that a former executive of a Japanese auto parts manufacturer has agreed to plead guilty and serve 13 months in a U.S. prison for his role in a four-year conspiracy to fix the prices of windshield wiper systems and starter motors installed in cars sold in the United States and elsewhere. The man has also agreed to pay a $20,000 criminal fine and cooperate with the DOJ’s ongoing antitrust investigation into price fixing, bid rigging and other anticompetitive conduct in the automotive parts industry.

A DOJ press release notes that 48 individuals have now been charged in this investigation and 32 companies have pleaded guilty or agreed to plead guilty and agreed to pay a total of more than $2.4 billion in fines. This includes the former company of the man penalized this week, which pleaded guilty for its involvement in the conspiracy in November 2013 and agreed to pay $135 million in criminal fines.

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