Wednesday, March 22, 2006

Samsung executives headed for jail

The "on-going investigation" of the FBI's Antitrust Division in San Francisco has resulted in three Samsung executives agreeing to plead guilty to participating in a global conspiracy to fix DRAM prices. The executives will serve jail terms of seven or eight months and each pay a fine of $250,000.

The three executives are: Yeongho Kang, Associate Drictor, DRAM Marketing in the U.S. (seven months in jail); Young Woo Lee, Sales Director of Samsung's subsidiary in Germany (seven months in jail); and Sun Woo Lee, Senior Manager of DRAM Sale (eight months is jail).

The "on-going" investigation has resulted in Samsung, Hynix and Micron executives serving time. Elpida Memory agreed to plead guilty and pay an $84 million fine.

And the Ramboids are dancing in the streets.

Read the US Department Of Justice press release linked here.

Hat tip to Larry of the Pinehurst Thread for the good news and the link.

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