Samsung Exec to Plead Guilty to U.S. Price-Fixing

Filed under: — By Aviran Mordo @ 12:27 pm

An executive with 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 on Thursday.

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.

If Quinn had been convicted at trial, he could have faced up to three years in prison and a larger fine.

The U.S. government said the conspiracy drove up the price of chips used in personal computers, servers, cell phones, cameras and game consoles.

Quinn was part of the price-fixing conspiracy in his capacity as vice president of marketing for memory products at Samsung Semiconductor Inc, a U.S. subsidiary of Samsung Electronics, the government said.

Source: eWeek


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