A PYMNTS Company

DENSO executive agrees to guilty plea and prison sentence for bid rigging and price fixing of heater control panels

By  |  March 27, 2012

DENSO executive and Japanese national Norihiro Imai has agreed to plead guilty to conspiracy to rig bids for and to fix, stabilize, and maintain the prices of heater control panels in U.S. cars. Imai’s plea agreement requires serving one year and one day in a U.S. prison, a $20,000 criminal fine, and cooperation with the ongoing investigation into price fixing and bid rigging in the auto parts industry.

According to the charge, Imai’s role in the conspiracy began at least in August 2006 and lasted until June 2009. Imai and his co-conspirators agreed during meetings and discussions to coordinate bids to automobile manufacturers, and to also coordinate the manufacturers’ requested price adjustments.  agreeing during meetings and discussions to coordinate bids submitted to, and price adjustments requested by, automobile manufacturers.

Full content: DOJ Press Release

 

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