Criminal Fine Against Freight Forwarder for Price Fixing
The Department of Justice reports that a freight forwarder has agreed to pay a $488,250 criminal fine after pleading guilty to conspiring with other forwarders to fix, raise, and maintain prices charged to customers from September 2010 until at least March 2015. The DOJ states that this is the first company to be charged in its ongoing antitrust investigation of the freight forwarding industry. Earlier two of the forwarder’s executives were sentenced to 15- and 18-month prison terms for their roles in the conspiracy.
A criminal violation of Section 1 of the Sherman Antitrust Act carries a maximum fine of $100 million for corporations. This amount may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either of those amounts is greater than the statutory maximum.