Denso executive agrees to serve more than one year in prison and pay a fine of $20,000

Article by Christian A., on March 28, 2012

The U.S. Department of Justice said that a Denso Corp. executive has entered a deal to serve more than one year in prison and pay a fine of $20,000 as part of a plea agreement for his role in rigging bids for heater control panels. Norihiro Imai, who is a Japanese national, will go before the U.S. District Court in Detroit and will plead guilty to one felony count of price fixing. He will be sentenced to serve in a U.S. prison for one year and one day. The department said that together with the fine, Imai has agreed to cooperate in the ongoing price-fixing investigations of the Justice Department.

According to investigators, Imai was involved in a conspiracy with unknown co-conspirators to rig bids and to fix, stabilize and maintain the prices of heater control panels sold in the U.S. and in other markets.

The department found out that this conspiracy started in August 2006 and had continued until June 2009. Denso spokeswoman Julie Kerr said that the company takes this issue “very seriously” and that is currently taking measures to guarantee that its employees follow all antitrust regulations.

She didn’t say where Imai is presently based. As part of the government’s ongoing probe, eight people (including Imai) and three companies have been charged for alleged price fixing and bid rigging in the auto parts industry. Denso submitted a guilty plead on March 5 and was ordered to pay a criminal fine of $78 million. Denso makes different electrical parts like thermal, powertrain control, electronic and electric systems, small motors and telecommunications. Based in Kariya, Japan, Denso is ranked second on the Automotive News list of the top 100 global suppliers with estimated worldwide parts sales to automakers of $32.9 billion in fiscal 2010.

Topics: denso

If you liked the article, share on:

Pin It

Comments

Recommended

Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 2017
Lamborghini has officially offered clear proof that the Huracán Performante was able to set a new record at the Nürburgring Nordschleife with a time of 6:52.01 It was in early...
by - March 25, 2017
Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries