Nobuhiko Niwa Charged with the price fixing deals to GM, Ford, Chrysler and Honda
Nobuhiko Niwa, a Japanese national, was the Director of the Corning International Company from July 1999 to 2011. He was appointed director of the mobile emissions division. According to a spokesman of Corning Company, Niwa left his post with the company in 2012. On Wednesday, The US Court charged Niwa for rigging bids and price fixing for ceramic substrates that are used in the systems of emission control. These emission control products were sold to Ford, Honda, and Chrysler Companies.
David Gelios is the special agent working at the Detroit Division of the FBI. He said that Niwa played a major role in price fixing and rigging bids. Niwa increased the cost to the suppliers, the manufacturers, and the consumers as well. He was charged by the court for negatively impacting the consumers and causing adverse consequences to the global economy.
Niwa was not only the person charged with price fixing; there were also 59 others. There were 39 other companies that were charged. According to the court, the companies and all the individuals have to pay a hefty fine for their wrongly conducted business. Their fines amount to more than $2.6 billion. The spokesmen of Corning International said that they should not be required to pay the fine but they would contact the investigation department to negotiate a lower fine.