US: Bridgestone execs nabbed in auto price-fixing crackdown

The US Department of Justice has nabbed the latest targets of its widespread auto parts price-fixing probe as three Bridgestone executives were indicted in the case.

Reports say the individuals – Yoshiyuki Tanaka, Yasuo Ryuto and Isao Yoshida – are accused of colluding to suppress competition through bid-rigging, price-fixing and other anticompetitive behavior regarding the sale of anti-vibration rubber parts.

The DOJ says the individuals divided the market among each other as well.

The manipulation affected car parts sold to Toyota, Nissan, Suzuki and Fuji Heavy Industries, which controls the Subaru brand, say reports.

The charges of bid-rigging and price-fixing come with top penalties of 10 years in prison and up to $1 million in fines.

The indictments follow just weeks after Bridgestone, based in Japan, agreed to plead guilty for its role in the collusion; the company will pay $425 million in fines.

The DOJ has so far collected 26 guilty pleas from companies and charged 32 individuals as part of the investigation, which is ongoing.

Full Content: Detroit News

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