Three Samsung Executives Plead Guilty To Price Fixing

Three Samsung executives will agree to plead guilty and will serve jail time for taking part in a price-fixing conspiracy, federal prosecutors said. Sun Woo Lee, senior manager of DRAM sales, will serve eight months; Young Woo Lee, sales director for Samsung Germany, will serve seven months; and Yeongho Kang, associate director of DRAM marketing in the United States, will serve seven months. Each of the men will also be required to pay a $ 250,000 fine, and cooperate in the ongoing antitrust investigation.

Three Samsung executives will agree to plead guilty and will serve jail time for taking part in a price-fixing conspiracy, federal prosecutors said. Sun Woo Lee, senior manager of DRAM sales, will serve eight months; Young Woo Lee, sales director for Samsung Germany, will serve seven months; and Yeongho Kang, associate director of DRAM marketing in the United States, will serve seven months. Each of the men will also be required to pay a $ 250,000 fine, and cooperate in the ongoing antitrust investigation.

Virtually every major memory manufacturer has been accused of manipulating DRAM prices from 1999 to 2002: Samsung, Hynix, Infineon, Micron and Elpida have also been accused of price-fixing. The US Department of Justice claims that the actions of the Samsung executives affected sales of PC retailers like Dell, Hewlett-Packard, Apple and Gateway.

Earlier this month, DailyTech reported that four Hynix execs have recently plead guilty to price fixing. The Justice Department’s investigation will continue with more charges and fines possible in the future.

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