The US Department of Justice announced its investigation into water freight price-fixing has landed an ex-executive in jail.
Former head of Sea Star Line LLC Frank Peake was sentenced to five years in prison Friday, as well as a $25,000 fine. The sanctions follow the DOJ’s probe into Sea Star Line and other sea freight carriers for fixing prices of cargo transported between the US and Puerto Rico.
In a statement, DOJ antitrust head Bill Baer said the sentence “reflects the serious harm these conspirators inflicted on American consumers, both in the continental United States and in Puerto Rico.”
The investigation has so far resulted in guilty pleas by the three largest water carriers that service US-Puerto Rico routes. More than $46 million in fines have been issued.
A judge ordered Sea Star Line to pay $14.2 million for its role in the cartel in 2011.
Full Content: The Maritime Executive
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Public Interest Groups Push for Rehearing on FCC Net Neutrality Case
Feb 18, 2025 by
CPI
Australian Regulator Backs Virgin Australia-Qatar Airways Alliance
Feb 18, 2025 by
CPI
EU Scales Back AI Regulations to Compete with US in Global Tech Race
Feb 18, 2025 by
CPI
Democratic Lawmakers Raise Concerns Over Musk’s Task Force and Taxpayer Data Security
Feb 18, 2025 by
CPI
UK’s CMA Provisionally Approves Poultry Feed Merger
Feb 18, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon