Fined and jailed
A Chi Mei Optoelectronics sales executive, charged in the
US with participating in a conspiracy to fix prices of display panels, agreed
to a prison sentence of 270 days and a fine of US$25,000.
Prosecutors and an attorney for Chu-hsiang “James” Yang
in a plea agreement that Yang would plead guilty to participating in a
conspiracy to suppress and eliminate competition by fixing the prices of LCD
panels sold in the US from 2004 to 2006.
The government recommended a reduced sentence for Yang
because he helped prosecutors in its investigation and prosecutions of LCD
price fixing, according to the agreement. The maximum penalty for price fixing
is 10 years in prison and a US$1 million fine, or twice the gain or loss from
the conduct plus restitution, according to the filings. A judge still must approve the sentence for Yang, who is
scheduled to appear in court to enter a guilty plea today.
Chi Mei merged with Innolux Display on March 18 to form the nation’s biggest LCD
maker, Chimei Innolux, where Yang still works, company spokseman Eddie Chen
said. He pleaded guilty
in December and agreed to pay US$220 million in fines. The investigation has
led to more than US$860 million in fines for LCD makers and guilty pleas by at
least four executives.