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Japan/US: Another exec jailed for auto parts price-fixing

By  |  August 3, 2014

Yet another former executive of a Japanese car parts manufacturer has been sentenced in the US for manipulating prices within the US market, say reports.

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    The US Department of Justice announced Thursday that former GS Electech executive Singo Okuda pleaded guilty to price-fixing charges and was sentenced to 13 months in prison. He will also pay a fine of $20,000.

    According to the DOJ, Okuda’s actions manipulated car parts provided to Toyota Motor Corporation.

    According to reports, a total of 36 individuals have been charged by the DOJ for similar allegations. A total of 27 car parts companies have so far settled with the DOJ in what amounts to the regulator’s largest-ever price-fixing investigation.

    Full content: MSN

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