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Lacey Act

Gibson Guitar Admits It Broke the Law; Settles with DOJ to Avoid Criminal Prosecution

August 8, 2012 by Ted Leave a Comment

500px-Gibson_logo.svgGibson Guitar Corp., a manufacturer of musical instruments and significant shareholder in Onkyo Corp. and majority owner of Onkyo USA, has entered into a “Criminal Enforcement Agreement” with the U.S. Department of Justice settling matters and circumstances surrounding government allegations of their illegal purchase and importation of woods and materials protected by environmental regulations and laws. As part of their settlement, Gibson admits the government’s allegations are true, agrees to pay a penalty of $300,000, agrees to an additional “community service” payment of $50,000 to the National Fish and Wildlife Foundation, implements a strict compliance program (approved by DOJ enforcers) to prevent future violations, and relinquishes claim to more than $260,000 worth of government-seized illegally imported materials. [Read more…] about Gibson Guitar Admits It Broke the Law; Settles with DOJ to Avoid Criminal Prosecution

Filed Under: Law, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: Gibson Guitar, Henry Juszkiewicz, Lacey Act, Onkyo Corp., Onkyo USA, U.S. Dept. of Justice

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A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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