Samsung Exec Pleads Guilty To Price-Fixing

Thomas Quinn, a Samsung Semiconductor executive, has pleaded guilty to federal charges of fixing prices for dynamic random access memory (DRAM). Quinn conspired with competitors in a scandal that affected every major computer maker. Co-conspirators included Korean Samsung executives as well as competitors from Hynix, Infineon, Micron Technology, and Elpida. Executives from all four companies will serve or have served five to eight months in prison. Each were ordered to pay $250,000 in personal fines. Criminal fines collected from the companies themselves have totaled $731 million. "Prison time for price-fixers remains the most potent deterrent to illegal cartel activity," said Thomas O. Barnett, Assistant Attorney General in charge of the Department's Antitrust Division. "Today's action [against Del.icio.us | Digg | Yahoo! My Web | Furl Bookmark Murdok: