Mexican Media Brands
Grand Jury Indicts Three Japanese Execs for Price Fixing
A federal grand jury in Kentucky has indicted three former or current Japanese executives for conspiring to fix prices on rubber seals and weather stripping sold to Honda Motor Co. and Toyota Motor Corp.
#legal
Share
A federal grand jury in Kentucky has indicted three former or current Japanese executives for conspiring to fix prices on rubber seals and weather stripping sold to Honda Motor Co. and Toyota Motor Corp.
The U.S. Dept. of Justice did not divulge the name of the company their worked for. Reuters say they were employees of Nishikawa Rubber Co. or an unnamed venture involving the company.
The sales executives Mikio Katsumaru, Yuji Kuroda and Keiji Kyomoto face penalties as great as a $1 million fine and 10 years in prison for rigging prices between at least 2003 and 2011, then encouraging employees to destroy evidence when the wrongdoing was being investigated.
The indictments are part of a continuing global investigation of price fixing among auto suppliers that so far has snared 37 companies and 58 executives in the U.S. alone.
RELATED CONTENT
-
Report: Ghosn Kept List of Hidden Compensation
Japanese prosecutors have found a list apparently created by former Nissan Motor Co. Chairman Carlos Ghosn that charts compensation the company didn’t report but he expected to receive, The Nikkei says.
-
Four Auto Companies Rank Among the World's Most Ethical
GM and Cooper Standard make the list for the first time, joining long-running honorees Aptiv and Cummins
-
Tesla Faces Second Autopilot Fatality Lawsuit
Tesla Inc. has been sued for the second time in three months by families of drivers killed in crashes while using the company’s Autopilot semi-self-driving feature.