Jail Time For Price-Fixing Car Parts

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An anonymous reader writes “The U.S. Dept. of Justice has announced that Panasonic and its subsidiary Sanyo have been fined $56.5 million for their roles in price fixing conspiracies involving battery cells and car parts. The fines are part of a larger investigation into the prices of auto parts. Interestingly, 12 people at various companies have been sentenced to jail time, and three more are going to prison. Since the charges are felonies, none of the sentences are shorter than a year and a day. Criminal fines targeting these companies has totaled over $874 million. ‘The conduct of Panasonic, SANYO, and LG Chem resulted in inflated production costs for notebook computers and cars purchased by U.S. consumers. These investigations illustrate our efforts to ensure market fairness for U.S. businesses by bringing corporations to justice when their commercial activity violates antitrust laws.'” Read more of this story at Slashdot.

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Jail Time For Price-Fixing Car Parts

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