Forums » General Discussions » General HotHardware Tech News » DoJ Sends Chi Mei Exec to the Slammer for LCD Price Fixing

DoJ Sends Chi Mei Exec to the Slammer for LCD Price Fixing

rated by 0 users
This post has 13 Replies | 1 Follower

Top 10 Contributor
Posts 21,599
Points 955,780
Joined: Sep 2007
ForumsAdministrator
Reply
News Posted: Thu, Jul 29 2010 11:04 AM
Bad boys, bad boys, whatcha you gonna do? Whatcha gonna do when the U.S. Department of Justice slaps you silly for conspiring to fix prices of LCD panels on a global scale? So maybe the actual theme song goes a little differently than that, but we have an answer to the question nonetheless. When the DoJ lobs a legal backhand your way for bending the public over and kicking them in the wallet, you're going to serve time in jail. That's the self-imposed plight Wen-Hung "Amigo" Huang, a former executive from Chi Mei Optoelectronics Corporation, finds himself in after pleading guilty to conspiracy to fix LCD prices.

"Under his plea agreement which is subject to court approval, Huang, who was charged today, has agreed to serve 9 months in jail, to pay a $25,000 criminal fine, and to assist the department in its ongoing TFT-LCD investigation," the DoJ said in a statement.


Huang, who is charged with violating the Sherman Act, could have been sentenced to up to 10 years in prison and fined $1 million. His alleged shenanigans, along with those of others who the DoJ says conspired to fix LCD prices, affected "some of the largest computer and television manufacturers in the world, including Apple, Dell, and Hewlett-Packard."

So far in this investigation, over $890 million in fines have been issued and obtained.
  • | Post Points: 110
Top 10 Contributor
Posts 4,987
Points 60,195
Joined: May 2008
Location: U.S.
Moderator
Reply
3vi1 replied on Thu, Jul 29 2010 2:59 PM

>> agreed to serve 9 months in jail, to pay a $25,000 criminal fine

I've got a vague idea of what his salary would be, but does anyone know what he made in bonuses and stock options over the period in question? The $25,000 fine seems like it failed to take that kind of remuneration into account.

What part of "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn" don't you understand?

++++++++++++[>++++>+++++++++>+++>+<<<<-]>+++.>++++++++++.-------------.+++.>---.>--.

  • | Post Points: 5
Top 75 Contributor
Posts 1,809
Points 18,090
Joined: May 2009
Location: Waikiki
Reply
animatortom replied on Thu, Jul 29 2010 5:35 PM

What is one persons Price Fix,....Is other peoples price Cap or Tax? :P

Intel Core i7-875K Quad
Asetek 510LC 120MM
4GB Kingston Hyper-X DDR-3
ASUS P7P55D-E Pro
CyberPower 800 PSU
Kingston 64GB SSD 
2 Hitachi 1-TB HDD'S
FirePro V8800
8X Blu-Ray DVD±R/±RW
HPw2207 22" LCD
Cintiq 21UX
CoolerMaster 690II Advance
Win 7 Pro 64 bit
Special thanks to HotHardware.com!
Top 50 Contributor
Posts 3,007
Points 37,350
Joined: Aug 2003
Location: Texas
Reply
acarzt replied on Thu, Jul 29 2010 5:41 PM

I'm very curious of specifically how much this effected us?

What were we paying?

And what could we have been paying were it not for us being screwed?

Core i7 920|EVGA X58|GTX 660 TI & 460se for PHYSX|2x30GB Vertex RAID0|5x1.5TB RAID5

-- Certifications --

CompTIA A+; CompTIA Network+ ; CompTIA Security+; Microsoft Certified Professional(MCP); Microsoft Certified Systems Administrator(MCSA); Microsoft Certified Sysems Engineer(MCSE); Certified Wireless Network Administrator (CWNA); Certified Wireless Security Professional (CWSP); Aruba Certified Mobility Associate (ACMA);

  • | Post Points: 20
Top 200 Contributor
Posts 435
Points 6,255
Joined: May 2010
Location: Portland, Oregon
Reply
lifeskills replied on Thu, Jul 29 2010 6:34 PM

I demand reparations

i7 950 - ASUS Rampage 3 Extreme - ASUS GTX 570 - AZZA Hurricane - 6 GB Corsair 1600 - Corsair AX750 - WD 1tb black  Cool Thank You HH!!!!!!Cool

 

AMD 1090T - MSI 890FXA-GD70 - XFX HD5850 x2 - CM Storm Scout - 8GB Kingston HyperX 1600 - Corsair HX850 - Sammy spinpoint f3 

 

  • | Post Points: 20
Top 50 Contributor
Posts 3,236
Points 37,910
Joined: Mar 2010
Reply
AKwyn replied on Thu, Jul 29 2010 7:01 PM

Well I did look into buying an LCD TV and the prices I saw were outrageous. 1,300 for an LCD LED TV? That is outrageously high.

 

"The future starts with you; now start posting more!"

  • | Post Points: 5
Top 50 Contributor
Posts 3,007
Points 37,350
Joined: Aug 2003
Location: Texas
Reply
acarzt replied on Thu, Jul 29 2010 7:02 PM

Yea! Where's our reparations! lol

Core i7 920|EVGA X58|GTX 660 TI & 460se for PHYSX|2x30GB Vertex RAID0|5x1.5TB RAID5

-- Certifications --

CompTIA A+; CompTIA Network+ ; CompTIA Security+; Microsoft Certified Professional(MCP); Microsoft Certified Systems Administrator(MCSA); Microsoft Certified Sysems Engineer(MCSE); Certified Wireless Network Administrator (CWNA); Certified Wireless Security Professional (CWSP); Aruba Certified Mobility Associate (ACMA);

  • | Post Points: 5
Top 500 Contributor
Posts 153
Points 1,705
Joined: Jul 2010
Reply
lonewolf replied on Thu, Jul 29 2010 9:27 PM

Sounds like he got off easy to me, I really would like to know is there such a thing as "Doing time in the joint"!!!!

That is the problem all these "cats" get off easy in a private upscale luxury half way house. I say lock them up in a San Quentin type of establishment let them sit in about a year with some death row inmates. Stop playing games DOJ and get serious!!!!!!

  • | Post Points: 20
Top 75 Contributor
Posts 1,809
Points 18,090
Joined: May 2009
Location: Waikiki
Reply
animatortom replied on Thu, Jul 29 2010 9:43 PM

He hasn't really done anything different from the people in Washington:P

They all just learned how to get away with things after Enron, and made it legal by taking over the courts.

Intel Core i7-875K Quad
Asetek 510LC 120MM
4GB Kingston Hyper-X DDR-3
ASUS P7P55D-E Pro
CyberPower 800 PSU
Kingston 64GB SSD 
2 Hitachi 1-TB HDD'S
FirePro V8800
8X Blu-Ray DVD±R/±RW
HPw2207 22" LCD
Cintiq 21UX
CoolerMaster 690II Advance
Win 7 Pro 64 bit
Special thanks to HotHardware.com!
Top 25 Contributor
Posts 3,707
Points 39,915
Joined: Jan 2010
Location: New York
Reply
Inspector replied on Thu, Jul 29 2010 10:14 PM

So what will be the price on LCDs now? i would love to know :)

  • | Post Points: 20
Top 50 Contributor
Posts 3,007
Points 37,350
Joined: Aug 2003
Location: Texas
Reply
acarzt replied on Thu, Jul 29 2010 10:36 PM

they're gonna go up lol

Core i7 920|EVGA X58|GTX 660 TI & 460se for PHYSX|2x30GB Vertex RAID0|5x1.5TB RAID5

-- Certifications --

CompTIA A+; CompTIA Network+ ; CompTIA Security+; Microsoft Certified Professional(MCP); Microsoft Certified Systems Administrator(MCSA); Microsoft Certified Sysems Engineer(MCSE); Certified Wireless Network Administrator (CWNA); Certified Wireless Security Professional (CWSP); Aruba Certified Mobility Associate (ACMA);

  • | Post Points: 5
Top 150 Contributor
Posts 639
Points 7,630
Joined: Jul 2009
Reply
ClemSnide replied on Fri, Jul 30 2010 12:07 AM

Reparations, lifeskills, would be called "class action lawsuits." Get ready for official-looking envelopes in your mailbox, assuming you remembered to send in the registration card.

"I didn't cry when Bambi's mother was shot... but I cried when HAL was turned off."

  • | Post Points: 5
Top 10 Contributor
Posts 7,955
Points 98,115
Joined: Apr 2009
Location: Shenandoah Valley, Virginia
Moderator
Reply
realneil replied on Fri, Jul 30 2010 11:51 AM

He got off with a low sentence and fine because he's cooperating with the investigation.

9 months and $2,500.00 beats the crap out of 10 years and $1,000,000.00 any day.

The DOJ is using him to get at other people who may not get off so easy.

They've fined or recovered 890 Million dollars so far? Where is all of that cash going to?

Send me a check please.

Don't part with your illusions. When they are gone you may still exist, but you have ceased to live.

(Mark Twain)

  • | Post Points: 20
Top 50 Contributor
Posts 3,007
Points 37,350
Joined: Aug 2003
Location: Texas
Reply
acarzt replied on Fri, Jul 30 2010 5:35 PM

No kidding Neil... That's a lot of money! How about pumping it back into the community :-D

Core i7 920|EVGA X58|GTX 660 TI & 460se for PHYSX|2x30GB Vertex RAID0|5x1.5TB RAID5

-- Certifications --

CompTIA A+; CompTIA Network+ ; CompTIA Security+; Microsoft Certified Professional(MCP); Microsoft Certified Systems Administrator(MCSA); Microsoft Certified Sysems Engineer(MCSE); Certified Wireless Network Administrator (CWNA); Certified Wireless Security Professional (CWSP); Aruba Certified Mobility Associate (ACMA);

  • | Post Points: 5
Page 1 of 1 (14 items) | RSS