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Former Exec Gets 18 Months in Prison for Fixing Prices of Auto Parts

Monday, April 21, 2014
Sandler, Travis & Rosenberg Trade Report

The Department of Justice announced April 16 that a former executive of a major auto parts producer has agreed to pay a $20,000 criminal fine and serve 18 months in prison for his role in an international conspiracy to fix prices and rig bids of automotive anti-vibration rubber parts sold in the U.S. and elsewhere. The former executive, who participated in the conspiracy for nearly eight years as a sales manager, general sales manager and executive vice president, is one of 33 individuals charged to date in the DOJ’s ongoing investigation into price fixing and bid rigging in the auto parts industry. His parent company, which has agreed to pay a $425 million criminal fine for its role in the conspiracy, is one of 26 that have pleaded guilty or agreed to plead guilty and pay a total of more than $2.29 billion in fines.

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