Price Fixing in Freight Transportation Yields $14.2 Million Fine
A Florida-based company has agreed to plead guilty and pay a $14.2 million criminal fine for its role in a six-year conspiracy to fix rates and surcharges for water transportation of freight between the U.S. and Puerto Rico, the Department of Justice announced Nov. 17. The company transports a variety of cargo shipments, such as heavy equipment, perishable food items, medicines and consumer goods, on scheduled ocean voyages.
Previously in this investigation another vessel company was sentenced to a $15 million criminal fine. In addition, five former shipping executives from both companies have been sentenced to pay a total of nearly $85,000 in criminal fines and serve more than 11 years in prison, collectively.