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.
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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