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US: Japanese auto parts exec indicted for price-fixing

By  |  May 14, 2015

Michitaka Sakuma, a former executive managing director for the company, was indicted in U.S. District Court in Detroit today on one charge of conspiring to fix the prices of radiators sold to Honda and Toyota the US Department of Justice said in a statement.

This violation of the Sherman Act carries a maximum penalty of 10 years in prison and a $1 million fine.

The Justice Department statement did not indicate Sakuma’s current whereabouts. In about 20 past cases, Japanese supplier executives indicted in the US have remained in Japan to avoid prosecution.

The government alleges that Sakuma and his co-conspirators began participating in price-fixing conspiracy meetings as early as October 2003 and through February 2010. The conspirators allegedly reached agreements to rig bids, allocate supply and fix the price of radiators sold to Honda and Toyota.

 

Full content: The Detroit News

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