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Executives involved in the case get fines and prison terms of up to nine months

The LCD industry was rocked by a scandal in late 2008 when executives from some of the largest panel makers in the world pled guilty to conspiring to fix prices. The price fixing led to inflated costs for displays used by firms like Dell in its notebook computers.

In November of 2008, executives from Sharp, LG, and Chunghwa Picture Tubes all pled guilty to price fixing. The largest fine imposed was placed on LG and totaled $400 million with Sharp said to be paying $85 million in fines.

Today reports are coming in that in addition to the fines levied against the corporations; the executives that participated in the scheme are being individually fined and sentenced to prison time here in America.

DigitalTrends reports that the former Chairman and CEO of Chunghwa, Chieng-Hon Lin was hit with an individual fine of $50,000 and a sentence of 9-months in an American prison. The other executives involved in the scandal received prison terms ranging from six to nine months each.

Deborah A. Garza, Acting Assistant Attorney General for Antitrust, said in a statement, "These cases involve the first Taiwanese nationals to face imprisonment in the United States for an antitrust offense. The Department of Justice is committed to holding accountable all conspirators who harm American consumers, no matter where they live or where they commit the crime."



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RE: Crime and punishment
By darkpaw on 1/20/2009 6:05:04 PM , Rating: 1
I like it, this would be genius. Instead of being able to pull our the megabucks lawyers and live at your penthouse while on trial and then appeal and die comfortably at home (like ken lay did and madroff likely will). Let em live in public housing.


"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer











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