Trade Resources Company News Hiromu Usuda Conspired to Rig Bids and Tried to Stabilize and Maintain The Prices

Hiromu Usuda Conspired to Rig Bids and Tried to Stabilize and Maintain The Prices

The US Department of Justice announced that a Detroit federal grand jury has indicted an executive of Takata on one-count for conspiring and price fixing of seat belts sold to car makers.

Hiromu Usuda, the accused executive allegedly conspired to rig bids and tried to stabilize and maintain the prices of, seatbelts sold to automakers including Toyota, Honda,Nissan, Mazda Motor and Subaru.

The seatbealts were used in vehicles manufactured and sold in the US and elsewhere.

The indictment alleges that Usuda was involved in the conspiracy and he was the one who directed, authorized and consented to his subordinates' participation.

Usuda is being charged for the violation of the Sherman Act, which includes $1m criminal fine and a maximum penalty of 10 years in prison.

Antitrust Division's criminal enforcement program deputy assistant attorney general Brent Synder said: "Antitrust violators who refuse to accept responsibility for their crimes leave us no choice but to indict.

"We will continue to prosecute those that commit these crimes."

According to the US department of Justice around 32 companies have been pleaded guilty and have agreed to pay a total of more than $2.4bn in fines.

Source: http://www.automotive-business-review.com/news/takata-executive-accused-of-auto-parts-price-fixing-230115-4495624
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Takata Executive Indicted for Auto Parts Price Fixing
Topics: Auto Parts