USDOJ: G.S. Electech Inc. Executive Pleads Guilty to Bid Rigging and Price Fixing on Automobile Parts Installed in U.S. Cars

The US Department of Justice (press release) reports that an executive of Japanese parts-maker G.S. Electech Inc. has pleaded guilty to bid-rigging and price-fixing charges relating to parts installed in the anti-lock braking systems in US cars. Shingo Okuda, the company's former Engineering and Sales Division Manager, pleaded guilty on 31 July in the U.S. District Court for the
Eastern District of Kentucky in Covington. He will serve 13 months in a
U.S. prison and pay a $20,000 criminal
fine.