Ex-CMO Executive Plead Guilty To LCD Price Fixing

Chen-Lung Kuo, former vice president of sales of Chi Mei Optoelectronics (CMO), will plead guilty to for participating in the LCD price-fixing conspiracy from April 2004 to December 2006, according to the US Department of Justice on August 4th. Kuo, a Taiwan resident, has agreed to serve nine months in jail, a US$35,000 fine and to assist the department in its ongoing investigation. More than US$890 million in fines have been charged against 19 executives and eight companies.

According to the Sherman Act, which carries a maximum penalty of 10 years in prison and a US$1 million fine for individuals, the maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims if either of those amounts is greater than the statutory maximum fine. Source: Digitimes