Four Infineon execs face jail
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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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WASHINGTON -- German chipmaker Infineon (Quote, Chart) has agreed to plead guilty and pay a $160 million fine for participating in what the Department of Justice (DOJ) calls an international price-fixing conspiracy in the memory chip market.
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WASHINGTON Federal prosecutors have announced that they have cracked a global cartel that had illegally fixed prices of memory chips in personal computers and servers for three years, and that one of the companies involved, Infineon Technologies, had
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Four prisoners in an El Salvador jail hid cellphones, a phone charger and spare chips in their bowels so they could coordinate crimes from their cells, prison officials said on Wednesday.
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Four Infineon executives pled guilty for price fixing computer memory chips and will face a prison sentence of four to six months along with $250,000 in fines, reported the US Department of Justice on Thursday.
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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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(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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Infineon Technologies AG (FSE/NYSE: IFX) announced today that it has reached an agreement with the United States Department of Justice - Antitrust Division - (DoJ) to plead guilty to a single and limited charge related to the violation of US antitrust
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German chipmaker Infineon (IFXGn.DE: Quote , Profile , Research ) sees no need for further anti-trust provisions in the immediate future after it pays a $160-million fine for price fixing and compensates ...
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WASHINGTON - Infineon Technologies AG, a German manufacturer of DRAM (dynamic RAM) has agreed to plead guilty and pay a $160 million fine for attempting to fix prices in the DRAM market, the U.S. Department of Justice (DOJ) announced Wednesday.
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Frank P. Quattrone, the banker whose deal making helped fuel the 1990Âs technology boom, is expected to receive a sentence of 16 months.
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Infineon Technologies AG has agreed to plead guilty and to pay a $160 million fine for participating in an international conspiracy to fix prices in the DRAM market, the US Department of Justice (DOJ) said today.
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Brocade Communications Systems  Inc's  former CEO was sentenced on Wednesday to 21  months in prison for backdating stock-option grants in a  scandal that has ensnared scores of U.S. companies and led to  billions of dollars of restatements.
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Four executives at Infineon Technologies AG, one of the world&#39;s largest makers of memory chips, have agreed to plead guilty to criminal charges of price fixing in federal court, authorities said Thursday.
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German microchip giant Infineon Technologies agreed to plead guilty and to pay a 160 million dollar fine for participating in &quot;an international conspiracy to fix prices,&quot; US officials said.
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Infineon Technologies AG, a German manufacturer of DRAM (dynamic RAM) has agreed to plead guilty and pay a US$160 million fine for attempting to fix prices in the DRAM market, the US Department of Justice (DOJ) announced Wednesday.
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Former Lt. Gov. Earle Morris was sentenced Friday to nearly four years in prison for misleading investors about the securities firm he led before it collapsed in the state's biggest bankruptcy.