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Price Fixing in Freight Transportation Yields $14.2 Million Fine

Monday, November 21, 2011
Sandler, Travis & Rosenberg Trade Report

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.

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