Arab Today, arab today us to jail japanese auto execs over pricefixing
Last Updated : GMT 04:50:39
Arab Today, arab today
Arab Today, arab today

US to jail Japanese auto execs over price-fixing

Arab Today, arab today

Arab Today, arab today US to jail Japanese auto execs over price-fixing

Washington - AFP

Two former top executives of Japanese auto parts supplier Diamond Electric will be imprisoned for more than a year in the United States for price fixing, the Justice Department said Friday. Shigehiko Ikenaga and Tatsuo Ikenaga, respectively the former president and vice president of the Osaka-based company, agreed to plead guilty to participating in a "global conspiracy" to fix prices of ignition coils installed in cars for the US market, the department said. The conspiracy, spanning at least from 2003 to 2010, saw various manufacturers rigging bids and fixing prices for ignition cols sold to Ford, Toyota, and Subaru. Felony charges were filed in the US District Court in Detroit against the two on Friday as part of the plea agreement. Shigehiko Ikenaga will serve 16 months in prison while his brother Tatsuo will serve 13 months. Both agreed to pay criminal fines of $5,000 each. The two executives are the sons of company founder Shigeji Ikenaga, who died in 2012. Diamond Electric itself pleaded guilty to charges in the price-fixing probe last September, and was fined $19 million. The charges and sentences are part of a long-term, wide-ranging probe into price fixing by mainly Japanese auto parts makers that has led to charges against 24 companies and 28 individuals.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us to jail japanese auto execs over pricefixing Arab Today, arab today us to jail japanese auto execs over pricefixing

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us to jail japanese auto execs over pricefixing Arab Today, arab today us to jail japanese auto execs over pricefixing

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday