Mexican Media Brands
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.
#legal
Share
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.
RELATED CONTENT
-
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
-
Another Japanese Supplier Pleads Guilty to U.S. Price Fixing
Maruyasu Industries Co., a Japanese supplier of steel fuel and brake lines and engine components, has pleaded guilty to U.S. charges of conspiring to rig bids and fix prices on its products.
-
Former VW Exec Schmidt Gets Maximum Sentence in Diesel Scandal
Oliver Schmidt—the former Volkswagen AG executive who pleaded guilty in August to lying about VW’s diesel pollution cheating—has received the maximum sentence of seven years in prison and a $400,000 fine.