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Autoliv Executive Pleads Guilty to Price Fixing
Takayoshi Matsunaga, an executive at Sweden's Autoliv Inc., has agreed to plead guilty to rigging bids in the U.S.
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Takayoshi Matsunaga, an executive at Sweden's Autoliv Inc., has agreed to plead guilty to rigging bids in the U.S.
Matsunaga has agreed to a $20,000 fine and a sentence of a year and a day in American prison.
Autoliv pleaded guilty in June 2012 to fixing prices of airbags, seatbelts and steering wheels between 2006 and 2011. The company agreed to pay a $15 million fine.
Separately, Diamond Electric Manufacturing Co. has agreed to plead guilty to conspiring to fix the prices of ignition coils it sold to Ford, Toyota and other automakers in 2003-2010.
The U.S. Dept. of Justice has imposed a $19 million criminal fine on the Osaka-based company.
The guilty pleas are the result of an ongoing investigation of cartel activity among auto suppliers by government authorities in Europe, Japan and the U.S.