Taiwan executive pleads guilty in LCD price-fixing case

Jul 28, 2010
Enlarged RGB color, basic color of the LCD panel. A former executive with Taiwan's Chi Mei Optoelectronics Corp. has agreed to plead guilty and serve time in a US jail for his role in a price-fixing case, the Justice Department said Wednesday.

A former executive with Taiwan's Chi Mei Optoelectronics Corp. has agreed to plead guilty and serve time in a US jail for his role in a price-fixing case, the Justice Department said Wednesday.

Huang Wen-Hung, Chi Mei's former director of sales, pleaded guilty to one count of conspiring to eliminate competition by fixing the prices of liquid crystal display (LCD) panels, the department said in a statement.

Huang was accused of participating from September 2001 to December 2006 in a conspiracy to fix the prices of LCD panels, which are used in computer monitors, televisions, mobile phones and other .

The Justice Department said Huang had entered into a plea agreement, which is subject to the approval of a US District Court in San Francisco, to serve nine months in a US jail and pay a 25,000 dollar fine.

Eighteen executives and eight companies, including firms from , and Taiwan, have been charged in the case and have agreed to pay fines totaling more than 890 million dollars.

Explore further: Mobile demand helps lift Taiwan exports 10.6% in June

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Caliban
not rated yet Jul 28, 2010
Just one guy has to do the time for a pretty extensive, and probably industry-wide conspiracy?

No surprise, given that price fixing is rampant in the global economy. If Criminals aren't jailed for pharmaceuticals and microprocessor price fixing, trillion-dollar drug cartel money-laundering, insider-trading, et c. I don't guess it would be fair to the poor little old LCD industry to jail their executives for a little RICO-type crime, now, would it?