Infineon execs to serve time over price-fixing

Four senior executives of German chipmaker Infineon Technologies will serve jail time and pay steep fines for their role in a...

Four senior executives of German chipmaker Infineon Technologies will serve jail time and pay steep fines for their role in a scheme to fix prices in the memory chip market, said the US Department of Justice.

The German executives Heinrich Florian, Günter Hefner and Peter Schaefer as well as American T Rudd Corwin each agreed to pay $250,000 (£128,600) and serve prison time of between four and six months, according to the Justice Department.

The plea agreement is the latest development in an ongoing investigation into what Justice Department officials are calling a global conspiracy to fix prices for DRam (dynamic Ram) chips. DRam chips are used in a numerous products, such as computers, PDAs, digital cameras and MP3 digital music players.

The case against the four executives underscores the commitment of the department to investigate and hold accountable conspirators, whether domestic or foreign, who harm US consumers through their collusive conduct, said R Hewitt Pate, assistant attorney general in charge of the department's antitrust division.

Munich-based Infineon agreed in October to pay a $160m fine for its role in the conspiracy, according to the department.

John Blau writes for IDG News Service

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