- Posted September 30, 2011
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Grand jury indicts three in price-fixing case
DETROIT (AP) -- A grand jury in Detroit has indicted three people in an investigation of fixing prices on compressors used in refrigerators and freezers.
The defendants include Ernesto Heinzelmann, former president and chief executive at Embraco, a division of Michigan-based Whirlpool. The others are Gerson Veríssimo, former president of a subsidiary of Tecumseh Products, and Naoki Adachi, a former executive at Panasonic.
The government says the three were engaged in an international conspiracy. The indictment was filed Tuesday in federal court in Detroit. No defense attorneys were listed yet on the docket. Price fixing carries a maximum penalty of 10 years in prison.
Embraco and Panasonic pleaded guilty last year and together agreed to pay $140 million.
Published: Fri, Sep 30, 2011
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