Friday, September 22, 2006

Samsung exec heads for prison over price fixing

CNET "An executive in the U.S. unit of South Korea's Samsung Electronics agreed to plead guilty and serve prison time for taking part in price-fixing in the computer memory chip business, the U.S. Justice Department said.
Samsung marketing executive Thomas Quinn is the fourth Samsung manager to plead guilty in the U.S. government's memory chip probe. He will serve eight months in prison and pay a $250,000 fine under the plea deal, the department said on Thursday.
If Quinn had been convicted at trial, he could have faced up to three years in prison and a larger fine. "

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