SAN FRANCISCO, Aug. 19 (UPI) -- A former executive of a Taiwanese color display tube manufacturer was indicted in California in a global price-fixing scheme, the U.S. Justice Department said.
The indictment, filed Tuesday in U.S. District Court in San Francisco, charged Wen Jun Cheng, a former sales and marketing assistant vice president for the unnamed firm, with conspiring to eliminate the competition by price-fixing, reducing output and allocating market shares of the tubes, the department said Wednesday in a news release.
The Justice Department alleged Cheng participated in the conspiracy as early as January 1999 until September 2004. Cheng also was indicted Feb. 3, 2009, for participating in a global conspiracy to fix prices of thin film transistor-liquid crystal display panels.
Tuesday's indictment alleges, among other things, that Cheng and his co-conspirators agreed on prices, output and market shares of the color display tubes.
Cheng is charged with violating the Sherman Act, which has a maximum penalty of 10 years in prison and a fine of $1 million.
