Taiwan executive pleads guilty in LCD price-fixing case
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 electronic devices.
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.
(c) 2010 AFP