Saturday, September 14, 2013

Japanese Executive charged with price fixing

COVINGTON, Kentucky --Executive has been charged with g.s Electech to fix installed with conspiracy to rig quotes and prices for auto anti-antilock-brake parts in American cars.

Jury in Covington, Kentucky, on Wednesday Shingo Okuda, who is accused of coordinating the approval of bids indicted a federal grand and submitted to fix prices for motor vehicle spare parts, Toyota.

After the donation, Okuda participation in the conspiracy lasted from at least already in January 2003 until at least February 2010.

The U.S. Department of justice the first says the indictment in Kentucky in an ongoing investigation of anti-competitive behavior in the car parts industry. So far 11 companies and 16 executives have in the Ministry of Justice charged ongoing investigations and imposed more than $874 million in fines.

In may 2012 g.s. Electech Inc. pleaded guilty and sensor has been fined around $2.75 million for his role in the conspiracy related to speed wire assemblies.

"Those who in price fixing, bid rigging and other fraudulent damage automotive drive the costs for vehicle manufacturers and buyers," said John Robert Shoup, acting Special Agent for the FBI's Detroit Division.

G.s Electech Inc. makes, assembles and markets a variety of electric vehicle parts, including speed sensor wire assemblies. Connect the speed sensor cable a sensor on each wheel ABS it have to engage.

Court documents have no list a lawyer for Okuda.

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