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http://www.reuters.com/article/2013/09/ ... 7620130926UPDATE 2-Auto parts makers to plead guilty to U.S. price fixing
12:49pm EDT
* DOJ antitrust division's biggest largest criminal investigation
* Company execs met in remote locations, used code names - DOJ
* More than $5 billion in auto parts affected
By Diane Bartz and David Ingram
WASHINGTON, Sept 26 (Reuters) - Nine companies based in Japan and two executives have agreed to plead guilty and to pay a total of more than $740 million in fines for their roles in long-running conspiracies to fix the prices of auto parts sold to U.S. car manufacturers, the Department of Justice said on Thursday.
The department said that price-fixed automobile parts were sold to Fiat SpA affiliate Chrysler Group LLC , Ford Motor Co and General Motors Co, -as well as to the U.S. subsidiaries of Honda Motor Co Ltd , Mazda Motor Corp, Mitsubishi Motors Corp , Nissan Motor Co Ltd, Toyota Motor Corp and Fuji Heavy Industries Ltd's Subaru.
In some cases the activity, which involved separate conspiracies to fix prices of more than 30 different products, lasted for a decade or longer, said Scott Hammond of the department's antitrust division's criminal enforcement program.
Among the parts affected by the conspiracies were seat belts, radiators, windshield wipers, air-conditioning systems, power window motors and power steering components.
The conspiracies affected more than $5 billion in parts sold to U.S. manufacturers. "More than 25 million cars purchased by American consumers were affected by the illegal conduct," said Attorney General Eric Holder.
Thursday's actions brought to 20 companies and 21 executives that have been charged in the antitrust division's investigation into price fixing and bid rigging, the largest such investigation the division has pursued.
Each of the companies and executives in the plea deal announced on Thursday has agreed to cooperate with the department's ongoing antitrust investigation, the Justice Department said.
U.S. investigators worked with colleagues in Canada, Europe, South Korea, Mexico and Australia, among others.
"We will continue to check under every hood and kick every tire to make sure we put an end to this illegal and destructive conduct," Holder said.
Holder said that parts company executives typically met face to face or talked via telephone to reach collusive agreements. "In order to keep their illegal conduct secret, they used code names and met in remote locations," he added.
The agreed-upon fines and sentences announced on Thursday included:
-Hitachi Automotive Systems Ltd to pay a $195 million criminal fine;
-Jtekt Corp to pay a $103.27 million criminal fine;
-Mitsuba Corp to pay a $135 million criminal fine;
-Mitsubishi Electric Corp (MELCO) to pay a $190 million criminal fine;
-Mitsubishi Heavy Industries Ltd to pay a $14.5 million criminal fine;
-NSK Ltd to pay a $68.2 million criminal fine;
-T.RAD Co Ltd to pay a $13.75 million criminal fine;
-Valeo Japan Co Ltd to pay a $13.6 million criminal fine;
-Yamashita Rubber Ltd to pay an $11 million criminal fine;
-Tetsuya Kunida, a Japanese citizen and former executive of a U.S. subsidiary of a Japan-based automotive anti-vibration rubber products supplier to serve 12 months and one day in a U.S. prison, and to pay a $20,000 criminal fine; and
-Gary Walker, a U.S. citizen and former executive of a U.S. subsidiary of a Japan-based automotive products supplier to serve 14 months in a U.S. prison, and to pay a $20,000 criminal fine.
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Dick Rasmussen
FS 50 2018 Mustang GT
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