Gibson Guitar settles probe into illegal wood imports

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Chinese rock fan sits in front of a guitar poster during music festival in BeijingNASHVILLE, Tennessee (Reuters) – Gibson Guitar Corp, which makes some of the world's most prized guitars, will pay a $300,000 penalty under a criminal enforcement agreement with federal prosecutors, after it admitted to possible illegal purchases of ebony from Madagascar, authorities said on Monday. The agreement, announced by Justice Department officials in Washington, caps a probe into the Nashville-based guitar maker that began in 2009 when it came under suspicion of importing banned or protected wood from both Madagascar and India. …

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