I have to admit that I am a bit surprised at the turn of events that the sentencing in the LCD price fixing scandal has taken. I fully expected the executives who pled guilty to price fixing to get monetary fines that were large, and they and their companies did.
What I didn’t expect was that the executives would actually spend time in jail for their activities. The former chairman and CEO of Chunghwa will serve nine months in prison and get a $50,000 fine. The other four executives embroiled in the scandal will see sentences from six to nine months.
The justice department says that the cases involve the first Taiwanese nationals to face prison terms in the US for an antitrust offence. I say it serves them right, maybe this will send the message that just because you don’t live in America, you can still do jail time here if you bilk American consumers.