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Justice Dept. Indicts Another Former Exec for Price Fixing
The U.S. Dept. of Justice has indicted Michitaka Sakum, former executive managing director of Japanese radiator supplier T.RAD Co., with fixing prices on radiators.
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The U.S. Dept. of Justice has indicted Michitaka Sakum, former executive managing director of Japanese radiator supplier T.RAD Co., with fixing prices on radiators.
The indictment says Sakuma conspired between 2003 and 2010 to fix prices on parts sold to Honda and Toyota factories in the U.S. T.RAD pleaded guilty two years ago to its role in the scheme and agreed to pay a criminal fine of nearly $14 million.
The Sakuma indictment brings to 53 the number of executives charged in the Justice Dept.'s continuing investigation into bid rigging among 35 auto suppliers. Automotive News notes that about 20 of the executives have remained in Japan to avoid prosecution.
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