A PYMNTS Company

US: Two auto parts executives indicted for price-fixing

By  |  February 5, 2015

A federal grand jury in Detroit indicted two executives of a Japanese-based manufacturer for price fixing, bid rigging and obstruction of justice on Thursday.

The indictment charges Hiroyuki Komiya and Hirofumi Nakayama, executives of Mitsuba with conspiring to fix the prices of car parts.

Komiya and Nakayama are also charged with corruptly persuading and attempting to persuade employees of Mitsuba to destroy documents and delete electronic data.

“These charges demonstrate the antitrust division’s continued commitment to prosecuting individuals who commit criminal antitrust violations,” said Brent Snyder, deputy assistant attorney general for the antitrust division’s criminal enforcement program.

Including Komiya and Nakayama, 52 individuals have been charged in the Justice Department’s ongoing investigation into market allocation, price fixing and bid rigging in the auto parts industry.

 

Full Content: The Detroit News

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.