Prison Sentences, Criminal Fines for Executives in Price-Fixing Case
The Department of Justice reports that two executives has been sentenced to prison sentences of 15 and 18 months for their roles in a conspiracy to fix prices of international freight forwarding services. The two were also each ordered to pay a $20,000 criminal fine and serve three years of supervised release.
According to a DOJ press release, the two executives organized meetings throughout the U.S. where they reached agreements with their competitors to fix the prices for freight forwarding services provided in the U.S. and elsewhere from at least September 2010 until at least March 2015. This conduct increased freight-forwarding prices by as much 20 percent. The DOJ is continuing to investigate other such schemes.