A federal grand jury in San Francisco indicted former VP of Sales and Marketing at Chi Mei Optoelectronics (CMO) executive Hsin-Tsung Wang on charges of price fixing TFT LCDs according to an announcement made by the US Department of Justice (DOJ). A total of 20 executives in eight companies have been charged with more than US$890 million in criminal fees collected. DOJ:
Wang is charged with violating 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.