Japanese auto supplier pleads guilty to price fix

[PeteTheFarmer]

A Japanese automotive supplier has agreed to plead guilty and pay a $200 million fine in a 10-year-old price-fixing and bid-rigging scam that ran partly out of Detroit, the U.S. Department of Justice announced today.

Detroit Free Press article

 

[Rand]

So they ripped off companies for over 200million and get 1 year of jail time?

Sounds kinda weak.


edit: wait it was a 200million fine... they dont say how much was ripped off.

 

[d00df00d]

The fine is a punishment. It isn't supposed to cover what they ripped off.

The article doesn't seem to mention what the company will do (if anything) to repay the companies they took from.

 

[55Test]

200 million yen, I take it?

 

[wapacz]

Originally Posted By: 55
200 million yen, I take it?


There is a dollar sign in the article so I am going to go with dollars.