The U.S. Justice Department said on the 27th that Wu Ruiji, a former manager of HannStar Display Corp., a Taiwanese panel maker, had agreed to guilty of conspiring to manipulate the price of the panel, and accepted a 7-month sentence in the United States.
The Ministry of Justice stated in the statement that Wu Ruixin is the head of the global sales and marketing department of the former Haoyu Caijing. He was accused of involving a global conspiracy to control the price of liquid crystal display LCD panels.
The statement pointed out that in the plea agreement sanctioned by the United States San Francisco Federal District Court, Wu Ruizheng agreed to serve a 7-month sentence and pay a fine of 20,000 U.S. dollars, and to assist the Ministry of Justice in subsequent investigations.
Wu Ruizhen originally faced a prison term of up to 10 years and a fine of 1 million US dollars.
A total of 21 managers and 8 companies including Japan, South Korea and Taiwan involved in the case. They have agreed to pay a total of more than US$890 million in fines.
The Ministry of Justice stated in the statement that Wu Ruixin is the head of the global sales and marketing department of the former Haoyu Caijing. He was accused of involving a global conspiracy to control the price of liquid crystal display LCD panels.
The statement pointed out that in the plea agreement sanctioned by the United States San Francisco Federal District Court, Wu Ruizheng agreed to serve a 7-month sentence and pay a fine of 20,000 U.S. dollars, and to assist the Ministry of Justice in subsequent investigations.
Wu Ruizhen originally faced a prison term of up to 10 years and a fine of 1 million US dollars.
A total of 21 managers and 8 companies including Japan, South Korea and Taiwan involved in the case. They have agreed to pay a total of more than US$890 million in fines.
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