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US: DOJ names latest auto parts price-fixing indictment

By  |  October 19, 2014

The US Department of Justice announced Thursday that a former executive of Japan-based auto parts supplier Showa Corp. has been indicted on the charge of conspiracy to fix prices.

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    According to reports, Akira Wada was indicted last week by a grand jury. Wada was manager and general manager of sales at Showa from 2003 to 2009, the DOJ said, and participated in a conspiracy to manipulate car parts prices.

    Showa pleaded guilty in June to price-fixing allegations and agreed to pay a $!9.9 million fine.

    The auto parts price-fixing case is the DOJ’s largest-ever price-fixing investigation. Wada marks the 44th individual charged in the investigation, along with 29 companies that have so far pleaded guilty to the claims.

    Full content: Crains Detroit

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