Nippon Chemi-Con was recently sentenced, by the US Department of Justice, to pay US$60 million criminal fine for conspiracy to fix prices for electrolytic capacitors. Nippon is the eighth company sentenced for participation in the price-fixing conspiracy.
Nippon was sentenced to five years of probation during which it has to implement an effective compliance program and submit annual reports concerning its compliance efforts.
In May 2018, Nippon pleaded guilty to conspiracy to price fix during the period of November 2001 to January 2014. In total, eight companies and ten individuals have been charged with criminal conspiracy, two of the individuals have pleaded guilty. The eight companies which have pleaded guilty have agreed to pay criminal fines collectively totaling US$150 million.
Eight other individuals have criminal charges pending. Four of the eight individuals charged with price-fixing conspiracy are Nippon executives.
Full Content: JD Supra
