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Electronics Production | March 02, 2006

Hynix bosses into prison

Four South Korean executives at Hynix will face some time-serving in prison as a result of a pricing cartel to push up the prices on DRAMs.

The four Hynix executives will serve some time in a United States prison and are also going to pay fines $250,000 each. "We strive to preserve the integrity of our free market economy,” said U.S. Attorney General Alberto R. Gonzales, in a statement. "Individuals who defraud American businesses and consumers by participating in international price-fixing conspiracies will be prosecuted and sent to prison no matter where they live or where they commit the crime”, he added.
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