Infineon execs to get jail terms
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Four sales executives of German microchip firm Infineon plead guilty to price fixing and accept jail terms, the US Justice Department says.
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Four sales executives of German chipmaker Infineon Technologies have agreed to plead guilty to participating in a conspiracy to fix the prices of computer memory chips, the US Department of Justice said Thursday.
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Two men at the heart of corporate  greed scandals in America paid the price on Tuesday, as a judge  sentenced former Enron Corp. executive Andrew Fastow to prison  and Bernard Ebbers, once the chief executive of highflying  WorldCom Inc. began serving a 25-year sentence.
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Former Samsung Semiconductor Inc executive Thomas Quinn has pleaded guilty to price fixing, and expects to serve eight months in prison, the US Department of Justice said.
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The leader of one of an Internet software piracy group was sentenced to prison for conspiracy to commit criminal copyright infringement.
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Four executives at German memory supplier Infineon and its US subsidiary pleaded guilty to charges of illegally setting prices for PC memory chips, the US Department of Justice (DOJ) announced Thursday.
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DECEMBER 17, 2004  - Two 21-year-old Michigan men were sentenced -- one to nine years and one to 26 months in federal prison -- for conspiring to hack into the IT systems of national home center chain Lowe&#39;s Companies Inc.
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(InfoWorld) - Four former executives with computer networking and security vendor Enterasys Networks have been sentenced to prison terms for their roles in accounting fraud at the company that cost investors millions of dollars, the U.S. Department of Justice announced Tuesday. The executives were convicted on conspiracy and fraud charges during a December 2006 trial. At sentencing hearings that began last week in U.S. District Court for the District of New Hampshire, Judge Paul Barbadoro sentenced former Enterasys CFO Robert J. Gagalis to 11 1/2 years in prison. Gagalis was convicted of one count of conspiracy, two counts of securities fraud, one count of making false statements to auditors of a public company, and four counts of wire fraud. Bruce D. Kay, a former Enterasys finance executive, was sentenced to 9 1/2 years in prison. The jury found Kay guilty of one count of conspiracy, two counts of securities fraud, one count of falsifying books and records of a public company, one count of making false statements to auditors of a public company, and three counts of wire fraud. Robert G. Barber, a former Enterasys business development executive, was sentenced to eight years in prison and fined $25,000. The jury found Barber guilty of conspiracy, two counts of securities fraud, one count of falsifying books and records of a public company, and one count of making false statements to auditors of a public company. Hor Chong "David" Boey, former finance executive in Enterasys' Asia Pacific division, was sentenced to three years in prison. Boey was convicted of conspiracy, two counts of securities fraud, one count of falsifying books and records of a public company, one count of making false statements to auditors of a public company, and two counts of wire fraud. Starting in mid-2001, the four defendants and other Enterasys executives inflated the company's revenue figures as a way to meet expectations of financial analysts and to maintain or increase the price of the company's stock, the DOJ said. The defendants backdated and falsified documents and concealed terms of business transactions from Enterasys' auditors in order to inflate revenue, the DOJ said. The conspirators also fraudulently created false revenue by secretly investing company funds in other companies and having those companies to use the investment proceeds to buy Enterasys products. Because of the fraudulent scheme, public investors lost at least $97 million, the DOJ said. The four "will spend years in prison for perpetrating a fraud that cost Enterasys shareholders millions of dollars," Alice Fisher, assistant attorney general in the DOJ's Criminal Division, said in a statement. Several other former Enterasys executives, including former Chairman, President and CEO Henry Fiallo have previously pleaded guilty to felony charges in connection with the scheme. To date, eight former Enterasys executives have been convicted of felonies. An Enterasys spokesman said the none of the four defendants have worked for the company recently. The company is under new management and ownership since the accounting fraud case was filed, and the convictions will not affect the company going forward, said Kevin Flanagan, company spokesman. The accounting fraud case "is very much in the past" for the company, he added.
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update Infineon Technologies will plead guilty to taking part in an international DRAM price-fixing conspiracy, which affected such companies as Dell, Hewlett-Packard and Apple, the US Department of Justice announced Wednesday.
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Four Infineon (Quote, Chart) executives agreed to plead guilty to charges they conspired to fix prices in the computer memory sector, officials said Thursday.
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p2pnet.net News:- Four Infineon Technologies AG executives face jail after pleading guilty to DRAM price fixing charges in what the US Department of Justice says is a, âvery active and far-reaching investigation into antitrust violations in the DRAM
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SEOUL: South Korean microchip makers said they face a US investigation into a price-fixing conspiracy in which German maker Infineon technologies has already suffered heavy fines.
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GIANT MEMORY company Infineon will plead guilty to price fixing of DRAM chips and will pay $160 million in fines to the US government.
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The Department of Justice charged Infineon with violating the Sherman Antitrust Act by conspiring with unnamed DRAM manufacturers between July 1999 and June 2002 to fix prices on memory sold to computer and server vendors.
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A former executive of CA Inc. was sentenced to 10 months of home confinement for conspiring to buy the silence of two people as part of a $2.2 billion fraud scheme.
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Four executives at German memory vendor Infineon Technologies and its U.S. subsidiary have pled guilty to charges of illegally setting prices for PC memory chips, the U.S. Department of Justice (DOJ) announced Thursday.
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Four executives at Infineon Technologies AG and its US subsidiary, Infineon Technologies North America Corp., are to plead guilty to participating in an international conspiracy to fix prices in the DRAM market, the US Department of Justice (DoJ) said