Japanese Exec to Plead Guilty to Auto Parts Price Fixing
An executive of Japan's DENSO Corp. agreed to plead guilty and go to prison for fixing prices and rigging bids for heater control panels installed in U.S. cars, the Justice Department said March 26. The one-count felony charge filed in…
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U.S. District Court, Detroit, the executive and others conspired to fix and stabilize the prices of the panels, at least from August 2006 to June 2009. The executive, Norihiro Imai, agreed to a year in prison and a $20,000 fine. A total of eight individuals and three companies have been charged in the government's ongoing investigation of price fixing in the auto parts industry, the Justice Department said.