Friday, April 20, 2007
An executive of South Korea's Samsung Electronics Co. Ltd. has agreed to plead guilty to price-fixing in the U.S. government's long-running investigation of the computer memory chip business, the Justice Department said.
Il Ung Kim, vice president of marketing for the memory division at Samsung, is the sixth Samsung executive to agree to plead guilty in the case, the department said. He agreed to serve 14 months in a U.S. prison, the department said.
As part of his plea agreement, Kim agreed to pay a $250,000 criminal fine and to cooperate with prosecutors in the ongoing investigation. The entry of the plea agreement and sentencing is currently scheduled for April 25, the Justice Department said. The plea and recommended sentence must be approved by the court.
The government has blamed the price-fixing scheme for driving up the price of chips used in personal computers, servers, cell phones, cameras, and game consoles.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
